Microsoft Office Tutorials and References

In Depth Information

**Session 3.2**

SESSION 3.2 VISUAL OVERVIEW

A
logical function
is a

function that works with

statements that are either

true or false.

A
financial function
is a

function related to monetar
y

calculations, such as loans

and payments.

A
date function
is a function

that inserts or calculates

dates and times.

The
TODAY function

is a date function

that displays the

current date.

An
IF function
is a logical

function that tests a

condition and then returns

one value if the co
ndition is

true and another value if the

condition is false.

This IF function tests whether

the value of cell E33 is greater

than or equal to th
e value in

cell L11 (E33>=$L$11). If the

condition is true, the function

returns the first value ($L$10);

if false, it returns the second

value (0).

The PMT function calculates

the amount of a monthly

loan payment, based on ra
te

(the interest rate per month),

nper (the total number of

months to pay back the

loan), and pv (the present

value of the loan).