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.
19,810,114 questions answered
Popular Conversations
What is the slope of the line that passes through (-2, 7) and (4, ...
Weegy: 3-3 = 0 User: Which of the following represents 3x - 5y + 10 = 0 written in slope-intercept form? y = -x + ...
3/5/2015 8:45:04 AM| 3 Answers
How thick is the continental crust in mountain ranges
Weegy: The continental crust is 20 to 70 kilometers thick and composed mainly of lighter granite.
3/6/2015 1:41:17 AM| 3 Answers
What is the equation of the line whose y-intercept is 3 and slope is ...
Weegy: The equation of the line whose y-intercept is 3 and slope is 1 is: y = x + 3. Formula: y = mx + c; c = 3 and m ...
3/5/2015 8:34:48 AM| 2 Answers
The graph of y = ax2 + bx + c is a parabola that opens up and has a ...
Weegy: ax2 + bx = -5 User: Which of the following equations is of a parabola with a vertex at (1, -2)? y = (x - 1)2 ...
3/5/2015 9:00:50 AM| 2 Answers
Which of the following equations is of a parabola with a vertex at ...
Weegy: x^2 - 2x - 35 = 0 x^2 - 2x + 1 - 36 = 0 (x - 1)^2 - 36 = 0 which is the vertex form of equation.
3/5/2015 9:29:12 AM| 2 Answers
Use completing the square to solve the equation x2 - 10x = ...
Weegy: C) y = (x - 5)^2 - 4
3/5/2015 1:08:31 PM| 2 Answers
The volumes of two cylindrical cans of the same shape vary directly ...
Weegy: Solution:using 8 pints/gallon and S an unknown constant vol varies as r^3 So vol = S * r^3; S*6^3 = ...
3/5/2015 3:26:51 PM| 2 Answers
Select an acceptable pronoun to complete this sentence. The squad ...
Weegy: Pronouns are words that substitute for nouns. User: Select an acceptable pronoun to complete this ...
3/5/2015 4:08:05 PM| 2 Answers
Weegy Stuff
S
L
P
L
P
P
P
Points 358 [Total 8244]| Ratings 0| Comments 358| Invitations 0|Offline
S
P
C
L
P
L
1
P
Points 144 [Total 7451]| Ratings 1| Comments 134| Invitations 0|Offline
S
1
L
Points 128 [Total 1039]| Ratings 1| Comments 118| Invitations 0|Offline
S
1
L
L
Points 90 [Total 7591]| Ratings 0| Comments 90| Invitations 0|Offline
S
Points 82 [Total 587]| Ratings 4| Comments 42| Invitations 0|Offline
S
Points 50 [Total 418]| Ratings 0| Comments 50| Invitations 0|Offline
S
Points 30 [Total 30]| Ratings 3| Comments 0| Invitations 0|Online
S
Points 21 [Total 137]| Ratings 2| Comments 1| Invitations 0|Online
S
Points 17 [Total 108]| Ratings 0| Comments 17| Invitations 0|Offline
S
Points 13 [Total 13]| Ratings 0| Comments 13| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.