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

description of the arguments in IPMT and for more information about annuity

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

instead.

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