Working with Functions Project 5 Function Categories

1
Working with FunctionsProject 5 Function
Categories

• Statistical
• Financial
• Logical
• Date Time

2
Working with FunctionsProject 5 Objectives

• Analyzing Data with AVERAGE, MAX, and MIN (Lesson
  1)
• Calculating a Loan Payment (Lesson 2)
• Creating a Loan Payment Table (Lesson 3)
• Evaluating Investment Plans with FV (skip)
• Using IF to Display Messages (Lesson 5)
• Using IF to Calculate (Lesson 6)
• Using NOW to Display the Current Date (Lesson 7)
• Using Dates in Calculations (skip)
• Non-XLS Formats

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Key Terms for Functions
variable data
argument
AVERAGE function
worksheet model
annuity
MAX function
PMT function
FV function
NOW function
IF function
MIN function
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Function Versus Formula

• Both functions and formulas
• Begin with an equal sign
• Use cell references

• Functions
• Utilize a predefined function with a specific
  name, such as SUM or AVERAGE.
• Use parentheses to enclose arguments.
• Use ranges rather than cell reference lists.

Formula B3B4 Function SUM(B3B8)
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Parts of a Function
The function
AVERAGE(Range)
Indicates this text represents calculation
The arguments
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The PMT Function
PMT(.04,36,20000)
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The FV Function
Returns the future value of a consistent investme
nt
FV(.06,360,850)
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Conditional Statements
IF(argument,true,false)

• ELEMENT
• IF
• argument
• true
• false
• ( )
• ,

• DESCRIPTION
• Function name
• TRUE or FALSE test
• Do this if test is TRUE
• Do this if test is FALSE
• Surround arguments in parentheses
• Use commas between argumentsdont use spaces

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The IF Function
IF(B3gt60,B310,Try Again)
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Sample Exam Question
Available Only in Lecture