Page 209 - DCAP101_BASIC_COMPUTER_SKILLS

Basic Computer Skills

Notes TIME Returns the serial number of a particular time.

Syntax : TIME (hour, minute, second)
Hour is a number from ‘1 to 23 that represents the hour’
Minute is a number from 0 to 59 that represents the minute’

Second is a number from 0 to 59 that represents the second’

TIME (13, 50, 27) returns 0.57670389, which is equivalent to l:50:27
PM.

10.8.2 Financial Functions
Rather than typing financial equations, you can use Excel’s financial functions’ Excel provides
a family of functions that solve annuity problems’ An annuity is a series of regular cash
flows over a Period of time.

FV: Returns the future value of an investment’
Syntax: FV{rate, nPr, Pmt, Py type)
Rate is the interest rate per period’ Nper is the total number of pay
ment periods in an annuity’ Pmt is the payment made each period’.
Pv is the present value, or the tump-sum amount that a series of future
payments is worth right now. lf pv is omitted, it is assumed to be 0.
Type is the number 0 or 1 and indicates when payments are due’ lf type
is 0, payments are due at the end of the period; if type is’l’ payments
are due at the beginning of the period’.
FV(0"5%, 10, -200, -500, 1) returns $2581’40"
fV(11%12,35,-2000, , 1) returns $82,846’25'
PMT: Returns the periodic payment for an annuiry- based on constant
payments and a constant interest rate’
Syntax: PMT(rate, nper, PV fv, type)
The following formula returns the monthly payment on * $10,000 loan at an
annual rate of 8% that you must pay off in 10 month. PMT(8%12, 1O, 1 0000)
returns -$1037’03'.
For the same loan, if payments are due at the beginning of the period,
the payment is PMT(8%12,1A,10000, 0, 1) which return -$1030.’16.
Returns the present value of an investment (the total amount that
series af future paynrents is worth now). For example, when ‘you
borrow money, the loan amount is the present value to the lender.
Syntax: PV(rate, nper, pmt, fV type)

10.8.3 Logical Functions
The logical functions are powerful worksheet functions that enable you to add decision-
making and logical preferences to your worksheets results.
IF Specifies a logical test to perform.
Syntax: IF(logical_test, value_if_true, value_if_false)

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