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.
21,508,247 questions answered
Popular Conversations
A rational number is a whole number. always sometimes never
Weegy: The answer is B sometimes User: Evaluate |3x| - (2x)2 + x 3 for x = -2. User: 6-(-4)^2+(-8) Weegy: A circle ...
6/29/2015 10:08:54 AM| 4 Answers
North Shore Community College reimburses faculty members $.298 cents ...
Weegy: Professor Wales submitted her travel log for a total of 650.11 miles. Professor Wales can expect to receive ...
6/29/2015 10:59:18 PM| 4 Answers
What is another name for the "master ...
Weegy: The master gland of the endocrine system is the pituitary gland. User: What region of the brain is hearing ...
6/29/2015 5:40:22 AM| 3 Answers
the perimeter of a rectangle is twice the sum of its legnth and its ...
Weegy: The length is 16m and the width is 7m.
6/29/2015 7:23:17 AM| 3 Answers
_____ communicate with the body to ensure homeostasis. Feedback ...
Weegy: Plasma membrane communicate with the body to ensure homeostasis.
6/29/2015 11:31:34 AM| 3 Answers
Evaluate -5x 2 - 3x for x = -2. A. 14 B. -14 C. -26
Weegy: The answer is x^2 - 3x + 7/x + 2. User: |3 - 6 + 8| 5 11 12 Weegy: 11 - 8 ? (1/3 + 1/5) = 11 - 8 ? (5/15 + ...
6/29/2015 11:51:59 AM| 3 Answers
What is the meaning of the prefix “anti ...
Weegy: The meaning of the prefix anti" is: AGAINST. User: Most words in the English language have a root word from ...
6/29/2015 7:07:15 AM| 2 Answers
Which of the following points lies on the circle whose center is at ...
Weegy: The equation of a circle of radius r and centre the origin is x*x+y*y=r*r [GOOD].. User: Which of the ...
6/29/2015 7:21:01 AM| 2 Answers
Which of the following statements is always true? A. Acute triangles ...
Weegy: A scalene triangle is an acute triangle. The statement is sometimes true. User: In a triangle, the second ...
6/29/2015 7:34:23 AM| 2 Answers
Weegy Stuff
S
Points 814 [Total 814]| Ratings 2| Comments 794| Invitations 0|Offline
S
L
Points 792 [Total 1087]| Ratings 0| Comments 792| Invitations 0|Offline
S
Points 460 [Total 460]| Ratings 5| Comments 410| Invitations 0|Offline
S
L
P
Points 436 [Total 3481]| Ratings 2| Comments 416| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
Points 411 [Total 9412]| Ratings 3| Comments 381| Invitations 0|Offline
S
1
L
P
1
Points 391 [Total 1406]| Ratings 4| Comments 351| Invitations 0|Offline
S
1
L
L
Points 101 [Total 8368]| Ratings 0| Comments 101| Invitations 0|Online
S
Points 49 [Total 300]| Ratings 0| Comments 49| Invitations 0|Offline
S
L
Points 48 [Total 1721]| Ratings 1| Comments 38| Invitations 0|Offline
S
1
L
1
Points 28 [Total 3512]| Ratings 1| Comments 18| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.