Microsoft Office Tutorials and References
In Depth Information
Add a Function to a Formula
6
chapter
Building Formulas
The Function Arguments dialog
box appears.
8 Click inside an argument box.
9 Click the cell that contains the
argument value.
You can also type the
argument value.
0 Repeat Steps and to fill as 9
many arguments as you need.
A The function result appears
here.
! Click OK.
B Excel adds the function to the
formula.
C Excel displays the formula
result.
Note: In this example, the
result appears in the
parentheses to indicate a
negative value. In loan
calculations, money that you
pay out is always a negative
amount.
Note: If your formula requires
any other operands and
operators, press and then
type what you need to complete
your formula.
How do I calculate a monthly financial result if I only have yearly values?
This is a common problem. For example, if your loan payment worksheet contains an annual
interest rate and a loan term in years, how do you calculate the monthly payment using the
PMT function? You need to convert the rate and term to monthly values. That is, you divide
the annual interest rate by 12, and you multiply the term by 12. For example, if the annual
rate is in cell B2, the term in years is in B3, and the loan amount is in B4, then the function
PMT(B2/12, B3*12, B4) calculates the monthly payment.
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