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 213 days ago|12/26/2013 10:46:34 AM
0 Answers/Comments
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
16,945,733 questions answered
Popular Conversations
People who have the genetic disorder called hemophilia suffer from ...
Weegy: People who have the genetic disorder called hemophilia suffer from abnormally low levels of oxygen in the blood ...
7/27/2014 6:19:14 AM| 2 Answers
calculate the sum of 1/4 and 1/5
Weegy: 1/4 + 1/5 = 9/20 User: calculate the sum of 1/9 and 1/4 Weegy: 1/9 + 1/8 = 17/72
7/27/2014 3:52:21 PM| 2 Answers
A peer group is a _______ group composed of equal age individuals ...
Weegy: A peer group is a primary group composed of equal age individuals with similar characteristics. User: The ...
7/27/2014 5:21:49 PM| 2 Answers
The number on the bottom of the division line of a fraction is called ...
Weegy: The number on the bottom of the division line of a fraction is called the NUMERATOR.
7/27/2014 1:33:34 AM| 1 Answers
Weegy Stuff
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
Points 2223 [Total 21223]| Ratings 1| Comments 2213| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
Points 2130 [Total 17259]| Ratings 0| Comments 2130| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
Points 1901 [Total 14456]| Ratings 1| Comments 1891| Invitations 0|Offline
S
L
1
Points 1526 [Total 3709]| Ratings 2| Comments 1506| Invitations 0|Offline
S
L
1
1
1
1
L
1
Points 1284 [Total 7461]| Ratings 2| Comments 1264| Invitations 0|Offline
S
1
L
Points 1103 [Total 3239]| Ratings 7| Comments 1033| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 924 [Total 10532]| Ratings 0| Comments 924| Invitations 0|Offline
S
1
L
Points 812 [Total 4488]| Ratings 2| Comments 792| Invitations 0|Online
S
P
C
L
P
L
1
Points 772 [Total 5826]| Ratings 4| Comments 732| Invitations 0|Offline
S
Points 275 [Total 423]| Ratings 2| Comments 255| Invitations 0|Offline
Home | Contact | Archive | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.