Question and answer
If you were a financial planner, what are some Excel functions that you might use or need? Please be specific, and explain thoroughly. You may need to use the Internet for answers, so remember to
include the URL of any site you used.
Some Excel functions that you might use or need if you're a financial planner: 1. [ The PMT Function Here is the formula in cell A6: =PMT(A1/12,A2,A3,A4,A5) If you don't use the "Percentage" format in cell A1 enter 0.05; If you use months as periods the rate must be divided by 12 (A1/12), if you use weeks then you divide by 52 (A1/52), if there are 4 payments per year you will divide the rate
by 4 (A1/4)and if the payment is annual you don't divide the rate argument (A1) ; The formula could also be =PMT(A1/12,A2,A3) the arguments in A4 and A5 being optional; If you want the payment to show as a positive value add a minus sign before the equal sign (=-PMT(A1/12,A2,A3,A4,A5)) 2. The RATE Function Here is the formula in cell A6: =RATE(A1,-A2,A3,A4,A5)*12 Notes on the formula: The payment argument is negative (-A2); If you use months as periods and you want an annual rate you multiply by 12, if you use a years as periods and you want an annual rate you don't multiply......; If you don't use the "Percentage" format in cell A6 the result of this example will be 0.05; The formula could also be =RATE(A1,-A2,A3)*12 the arguments in A4 and A5 being optional 3. The FV Function (Future value) Here is the formula in cell A6: =FV(A1/12,A2,A3,A4,A5) Notes on the formula: If you don't use the "Percentage" format in cell A1 enter 0.05; If you use months as periods the rate must be divided by 12 (A1/12), if you use weeks then you divide by 52 (A1/52), if there are 4 payments per year you will divide the rate by 4 (A1/4)and if the payment is annual you don't divide the rate argument (A1) ; The formula could also be =FV(A1/12,A2,A3) the arguments in A4 and A5 being optional; If you want the RESULT to show as a positive value add a minus sign before the equal sign (=-FV(A1/12,A2,A3,A4,A5)) ]
Expert answered|emdjay23|Points 3026|
Question
Asked 12/26/2013 10:46:34 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
21,079,862 questions answered
Popular Conversations
What is the middle term of the product of (x - 4)(x - 3)? User: ...
Weegy: b.(p + 2)(p + 16) to check: p*p + (2p + 16p) + (2 * 16) = p^2 + 18p + 32 so the answer is b.(p + 2)(p + 16) ...
5/26/2015 1:22:27 PM| 3 Answers
Give the next two numbers in this pattern: 0, 0.75, 1.5, 2.25, ... ...
Weegy: 0.6/0.75 = 0.8 User: Find the direct variation equation which passes through (0, 0) and (4, 1). A. y = 4x ...
5/26/2015 12:36:07 AM| 2 Answers
Evaluate f-2g for f = 4 and g = 32. 2 8 User: Write 6,000,370 in ...
Weegy: y*9 User: (b2)3 Weegy: the bond order of b2 is 1, one bond order = 1/2 (#e- in bonding MO's - #e- in ...
5/26/2015 10:14:55 AM| 2 Answers
What is the solution set of the given equation? 4y - 6y + 9y = -2
Weegy: 4y - 6y + 9y = -2 -2y + 9y = -2 7y = -2 y = -2/7 User: Solve for x. 5x - 6 = 4x + 8 Weegy: ...
5/26/2015 12:20:50 PM| 2 Answers
A major characteristic of monopolistic competition is that prices ...
Weegy: A. higher than in perfect competition. User: A minimum price, set by the government, that must be paid for a ...
5/26/2015 12:56:40 PM| 2 Answers
(2x – 1)(x + 7) = 0
Weegy: (2x + 1)(x + 7) = 0; 2x + 1 = 0; 2x = -1; x = -1/2; x + 7 = 0; x = -7; x = -1/2 or x = -7 User: x^2 ...
5/26/2015 4:37:35 PM| 2 Answers
Weegy Stuff
S
L
Points 706 [Total 1236]| Ratings 2| Comments 686| Invitations 0|Offline
S
Points 699 [Total 707]| Ratings 1| Comments 689| Invitations 0|Offline
S
1
Points 537 [Total 929]| Ratings 2| Comments 517| Invitations 0|Offline
S
L
P
Points 408 [Total 2885]| Ratings 1| Comments 398| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
Points 248 [Total 8994]| Ratings 0| Comments 248| Invitations 0|Offline
S
Points 132 [Total 152]| Ratings 0| Comments 132| Invitations 0|Offline
S
1
L
L
Points 82 [Total 8265]| Ratings 0| Comments 82| Invitations 0|Offline
S
L
Points 56 [Total 3810]| Ratings 2| Comments 36| Invitations 0|Offline
S
L
1
R
Points 45 [Total 1332]| Ratings 0| Comments 45| Invitations 0|Offline
S
Points 20 [Total 20]| Ratings 2| Comments 0| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.