# Intro to IT_Ch.4 Study Guide – Flashcards

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Predefined formulas that perform common business calculations, adn which typically involve a period of time such a months or years
Financial Function
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The amount charged for the use of borrowed money
Interest
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In the Excel PMT function, the term used to indicate the interest rate for a loan
Rate
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The total amount that a series of future payments is worth now
Present Value
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Another term for present value
Principal
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The abbreviation for number of time periods in various Excel functions
Nper
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The value at the end of the time periods in an Excel function; the cash balance you want to ttain after the last payment is made - usually zero for loans
Future Value
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The values that an Excel function uses to perform calculations or operations
Aruments
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An excel function that calculates the payment for a loan based on sconstant payments and at a constant interest rate
MPT Function
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An optional argument in the PMT function that assumes that the payment will be made at the end of each time period
Type Argument
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The process of changing the values in cells to see how those changes affect the outcome of forumlas in the worksheet
What if Analysis
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One of excels what if analysis tools that provides a method to find a specific value for a cell by adjusting the value of another cell.
Goal Seek
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A range of cells that shows how changing certain vales in your formulas affects the results of those formulas, and which makes it easy to calculate multiple versions in one operation
Data table
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A data table that changes the value in only one cell
One variable data table
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A data table that changes the values in two cells
Two variable data table
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Loans are typically made for period of
Years
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The future value at the end of a loan is typically
Zero
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A word or string of characters that represents a cell
Name
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When you use a defined name in a formula, the result is the same as if you typed a
Cell Reference
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A group of excel functions that look up a value in a defined range of cells is called
Lookup Functions
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An excel function that looks up values that are displayed vertically in a column is the