Microsoft Office Tutorials and References
In Depth Information
APPENDIX 1 - ALPHABETICAL FUNCTION REFERENCE
IPMT(rate,per,nper,pv,fv,type) [Category: Financial]
Returns the interest payment for a given period for an investment based on
periodic, constant payments and a constant interest rate. For a more complete
functions, see Excel help for PV. Guru Tip: See ROW for an example of building
an amortization table using IPMT and PPMT.
IRR(values,guess) [Category: Financial]
Returns the internal rate of return for a series of cash ﬂ ows represented by the
numbers in values. These cash ﬂ ows do not have to be even, as they would be
for an annuity. However, the cash ﬂ ows must occur at regular intervals, such as
monthly or annually. The internal rate of return is the interest rate received for
an investment consisting of payments (negative values) and income (positive
values) that occur at regular periods. Guru Tip: IRR is related to NPV. The IRR
is the interest rate at which a series of cash ﬂ ows would generate a NPV of zero.
For an example of IRR, see the image after NPV.
ISBLANK(value) [Category: Information]
Returns TRUE if Value refers to an empty cell. Guru Tip: This is an unfortunate
name for this function. It really is testing for an empty cell. An empty cell has
nothing in the cell. If you type some spaces in a cell, it is no longer blank. If you
type a leading apostrophe in a cell, it is no longer blank. The net result is that
you will have a lot of cells that might appear to be blank and ISBLANK will not
report them as blank. Also see page 2.
ISERR(value) [Category: Information]
Returns TRUE if Value refers to any error value except #N/A. Guru Tip: Unless
you have some reason to accept #N/A in your worksheet, use ISERROR
ISERROR(value) [Category: Information]
Returns TRUE if Value refers to any error value (#N/A, #VALUE!, #REF!, #DIV/0!,
#NUM!, #NAME?, or #NULL!). Guru Tip: ISERROR checks for all 7 of the possible
error results. To test for a speciﬁ c error result, see the ERROR.TYPE function.
ISERROR is more comprehensive than the older ISERR function. ISERR does
not recognize #N/A as an error.
ISEVEN(number) [Category: Information]*
Returns TRUE if number is even, or FALSE if number is odd.
ISLOGICAL(value) [Category: Information]
Returns TRUE if Value refers to a logical value.
ISNA(value) [Category: Information]
Returns TRUE if Value refers to the #N/A (value not available) error value. Guru
Tip: Speciﬁ cally tests for #N/A error results. Good for preventing errors as the
result of VLOOKUP: =IF(ISNA(VLOOKUP(A2,MyTable,2,False)),0, VLOOKUP

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