Office 2007 - Excel Chapter 4 Financial Functions, Data Tables, and Amortization Schedules

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Functions, what-if

Two of the more powerful aspects of Excel are its wide array of ____ and its capability of organizing answers to ____ questions.

Amortization

A(n) ____ schedule shows the beginning and ending balances and the amount of payment that applies to the principal and interest over a period.

Cell protection

Ensures that users do not change values inadvertently that are critical to the worksheet.

Hiding

Doing this to portions of a workbook lets you show only the parts of the workbook that the user needs to see.

Formula checker

Checks the formulas in a workbook in a manner similar to the way the spell checker checks for misspelled words.

Can

You can or cannot have more than one instance of Excel running.

taskbar

Besides opening multiple workbooks, in Excel, you can run multiple instances of Excel. Each instance of Excel will show as a button on the Windows Vista ____. Excel shows all open workbooks in the ____.

Ctrl + : =now()

Keyboard shortcut for the system date & formula for system date.

Global formatting

To assign formats to all the cells in all the worksheets in a workbook.

Shift

To deselect the Selected worksheets, hold down the ____ key and click the Sheet1 tab.

Position the mouse pointer on the bottom boundary of the row heading and drag down

How can the row height be changed when using the mouse?

Position the mouse pointer on the right boundary of the column heading and drag to the left

How can the column width be changed when using the mouse?

Concatenate

You can ____ text, numbers, or text and numbers from two or more cells into a single cell.

&

What is the concatenation operator?

Shortcut

Excel requests that you point to the object (cell, range, toolbar) on the screen when you right-click to display the corresponding ____ menu.

Border

To control the color and thickness of a border, Excel requires that you use the ____ sheet in the Format Cells dialog box.

1—choose the border color; 2—choose the border line style; 3—choose the border type

It is important to select border characteristics in what order? If you attempt to do these steps in any other order, you may not end up with the desired borders.

1—before you enter data; 2—when you enter data, 3—incrementally after entering sections of data; 4—after you enter all the data

When can you format data in cells?

No

Does the Currency style format have an impact on text in a cell?

will

When you format a cell to display percentages, Excel assumes that whatever you enter into that cell in the future will or will not be a percentage.

50%, One

If you enter the number .5, Excel translates the value as ____. A potential problem arises, however, when you start to enter numbers greater than or equal to ____.

Name Manager

The ____ can help add clarity to your formulas by allowing you to assign names to cells.

Top, left

Worksheets often have column titles at the ____ of each column and row titles to the ____ of each row that describe the data within the worksheet.

Name

A cell ____ is created from column and row titles through the use of the Name command on the Insert menu.

not

Excel is or is not case-sensitive with respect to names of cells.

Underscore character (_)

To use a name that is made up of two or more words in a formula, you should replace any space with the ____ character.

255

A cell name can be a minimum of 1 character to a maximum of ____ characters.

Absolute

Cell names are ____ cell references.

Alphabetical

Excel displays cell names in ____ order.

global

Cell names are ____ to the workbook. A name assigned to a cell or cell range on one worksheet in a workbook can be used on other sheets in the same workbook to reference the named cell or range.

Cell or range

Spreadsheet specialists often assign cell names to a ____ or ____ of cells so they can select them quickly.

Rate, payment, and loan amount

The PMT (monthly payment for a loan) financial function has three arguments. What are they?

The ScreenTip shows the general form of the PMT function

What happens as you enter the PMT function?

Range finder

Remember to check all formulas carefully. You can double-click a cell with a formula and Excel will use ____ to highlight the cells that provide data to the formula.

FV (rate, periods, payment)

Financial Functions—Returns the Future Value of an investment based on periodic, constant payments, and a constant interest rate.

PMT (rate, periods, loan amount)

Financial Functions—Calculates the PayMenT for a loan based on the loan amount, constant payments, and a constant interest rate.

PV (rate, periods, payment)

Financial Functions—Returns the Present Value of an investment. The present value is the total amount that a series of future payments is worth now.

True

Excel instantaneously recalculates all formulas in the worksheet each time you enter a value. True/False

True

It is a good practice to test the formulas in a worksheet over and over again until you are confident they are correct. True/False

Limits; negative, zero, large positive

Use data that tests the ____ of the formulas. You should enter ____ numbers, ____, and ____ numbers to test formulas.

What-if

Data tables have one purpose: to organize the answers to ____ questions.

One input value and two input values

You can create two kinds of data tables. What are they?

Data table, different

A ____ is a range of cells that shows the answers generated by formulas in which ____ values have been substituted.

One-input data

With a ____ table, you vary the value in one cell. Excel then calculates the results of one or more formulas and fills the data table with the results.

Two-input data

A ____ table allows you to vary the values in two cells, but you can apply it to only one formula.

Nonblank, active

If you double-click the top of the heavy black border surrounding an active cell, Excel will make the first ____ cell in the column ____. (Same for bottom, left, and right sides)

True

You can have as many active data tables in a worksheet as you want—unlimited. True/False

Delete

You delete a data table as you would delete any other item on a worksheet. Select the data table and then press the ____ key.

True

You can add as many conditional formats to a range as you like--unlimited. True/False

First

Conditional Formatting—If more than one condition is true for a cell, then Excel applies the formats of each condition, beginning with the ____.

Pointer

To make a row stand out, you can add formatting that serves as a ____ to a row.

Home

The Conditional Formatting button is on the ____ Tab.

Amortization schedule

A(n) _____ shows the beginning and ending balances of a loan, and the amount of payment that applies to the principal and interest for each year over the life of the loan.

Column border

A ____ is an unused column with a significantly reduced width.

Annuity

A(n) ____ is a series of fixed payments made at the end of each of a fixed number of periods (months) at a fixed interest rate.

first

When you enter a formula in a cell, Excel assigns the cell the same format as the ____ cell reference in the formula.

double-click

If there is a column with entries adjacent to the range you plan to drag the fill handle down through, then you can ____ the fill handle instead of dragging.

Round-off; decimal places

The ____ error is due to the fact that some of the numbers involved in the computations have additional ____ that do not appear in the cells.

Round

Round-off errors—Which function can be used on the formula to ensure that the total is exactly correct?

Range

You can set a specific ____ to print each time you print the worksheet by using the Set Print Area command.

Speeds up, saves

Printing in black and white ____ the printing process, but also ____ ink.

Fit to

When printing click ____ in the Scaling area to set the worksheet to print on one page.

Print area box

Print Option—You can select a range to print with the mouse, or you can enter a range or name of a range in this box.

Print titles area

Print Option—This area instructs Excel to print row titles and column titles on each printed page of a worksheet.

Gridlines check box

Print Option—A check mark in this check box instructs Excel to print gridlines.

Black and white check box

Print Option—A check mark in this check box speeds up printing and saves colored ink if you have colors in a worksheet and a color printer.

Draft quality check box

Print Option—A check mark in this check box speeds up printing by ignoring formatting and not printing most graphics.

Row and column headings check box

Print Option—A check mark in this check box instructs Excel to include the column heading letters (A, B, C, etc.) and row heading numbers (1, 2, 3, etc.) in the printout.

Comments box

Print Option—Indicates where comments are to be displayed on the printout.

Cell errors as box

Print Option—Indicates how errors in cells should be displayed on the printout.

Page order area

Print Option—Determines the order in which multipage worksheets will print.

True

Once you set a print area, Excel will continue to print the specified range, rather than the entire worksheet. If you save the workbook with the print area set, then Excel will remember the settings the next time you open the workbook and print only the specified range. True/False

Clear Print Area

To remove the print area so that the entire worksheet prints, click ____ on the Print Area menu.

Name, name box

Rather than using the set Print Area command or manually selecting the range each time you want to print, you can ____ the ranges using the ____ in the formula bar.

Protect

When building a worksheet for novice users, you should ____ the cells in the worksheet that you do not want changed, such as cells that contain text or formulas.

can

Unprotected cells are cells whose values you can or cannot change at any time.

Cannot

Protected cells are cells that you can or cannot change.

True

You should protect cells only after the worksheet has been tested fully and the correct results appear. True/False

1—Select the cells you want to leave unprotected and then change their cell protection settings to an unlocked status; 2—Protect the entire worksheet

What is the two-step process for protecting a worksheet?

password

You should create a ____ when you want to keep others from changing the worksheet from protected to unprotected.

hide

You can ____ rows, columns, and sheets that contain sensitive data.

Short cut

The Hide command is on the ____ menu.

View

You hide an entire workbook by using the Hide button on the ____ tab on the ribbon.

Formula checker

Excel has a ____ that checks formulas in a worksheet for rule violations.

Enabling and disabling

You can choose which rules you want Excel to use by ____ them in the Formulas area in the Excel Options dialog box.

Background formula checking

This means that Excel continually will review the workbook for errors in formulas as you create or manipulate it.

Reset Ignored Errors

If you add or remove check marks, then you should click the ____ button to reset error checking.

Error checking Options

The ____ command instructs Excel to display the Excel Options dialog box with the Formulas area active.

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