# COMP 242 Excel Chapter 4

### 25 terms by JennieRDT3

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Objective Questions

### Financial Functions

Predefined formulas that perform common business calculations, and which typically involve a period of time such as months or years.

### Interest

The amount charged for the use of borrowed money.

### Rate

In the Excel PMT function, the term used to indicate the interest rate for a loan.

### Present value (Pv)

The total amount that a series of future payments is worth now.

### Principal

Another term for present value.

### Nper

The abbreviation for number of time periods in various Excel functions.

### Future value (Fv)

The value at the end of the time periods in an Excel function; the cash balance you want to attain after the last payment is made-- usually zero for loans.

### Arguments

The values that an Excel function uses to perform calculations or operations.

### PMT function

An Excel function that calculates the payment for a loan based on constant payments and at a constant interest rate.

### Type argument

An optional argument in the PMT function that assumes that the payment will be made at the end of each time period.

### What-if analysis

The process of changing the values in cells to see how those changes affect the outcome of formulas in the worksheet.

### Goal Seek

One of Excel's What-if Analysis tools that provides a method to find a specific value for a cell by adjusting the value of one other cell-- you can find the right input when you know the result you want.

### Data table

A range of cells that shows how changing certain values in your formulas affects the results of those formulas, and which makes it easy to calculate multiple versions in one operation.

### One-variable data table

A data table that changes the value in only one cell.

### Two-variable data table

A data table that changes the values in two cells.

### Years

Loans are typically made for a period of:

### Zero

The future value at the end of a loan is typically:

### Name

A word or string of characters that represents a cell, a range of cells, a formula, or a constant value is a defined:

### 0

In the Cell Styles gallery, the Currency [0] style and the Comma [0] style format the selected cell with how many decimal places?

### Cell reference

When you use a defined name in a formula, the result is the same as if you typed a:

### Lookup functions

A group of Excel functions that look up a value in a defined range of cells located in another part of the workbook to find a corresponding value is referred to as:

### VLOOKUP function

An Excel function that looks up values that are displayed vertically in a column is the:

### Array

A defined range of cells, arranged in a column or row, used in a VLOOKUP or HLOOKUP function, is called a table:

### Ascending order

When creating a VLOOKUP or an HLOOKUP function, the one requirement is that the data in the table array is sorted in:

### Validation list

A list of values that are acceptable for a group of cells is a:

Example: