Grauer and Barber Series Microsoft Excel Chapter Three 9/19/2018 Microsoft Excel

Analysis of a Car Loan Formula to calculate Payment 9/19/2018 Microsoft Excel

Analysis of a Car Loan Use PMT function to calculate monthly payment Use function paste to retrieve function PMT function =PMT arguments (Interest rate per period annual/12, Number of periods 3 years * 12 months/year Amount of Loan (enter as a negative number) 9/19/2018 Microsoft Excel

Payment Function Payment Function PMT Financial Category 9/19/2018 Microsoft Excel

PMT Function Enter a function by Typing in function and pressing enter Using the function Paste function key Enter Payment Arguments 9/19/2018 Microsoft Excel

Goal Seek Desired Payment Answer Returned 9/19/2018 Microsoft Excel

Hands-On Exercise One Enter and save a spreadsheet Use File, Save to save the worksheet Enter the PMT function to calculate car loan Use Tools, Goal Seek to find solution 9/19/2018 Microsoft Excel

Home Mortgages Comparison of Monthly Payment 30 Year and 15 Year Mortgage Comparisons Of 30 and 15 year mortgage 9/19/2018 Microsoft Excel

Home Mortgages Comparison of Monthly Payment 30 Year and 15 Year Mortgage Formulas To calculate payment 9/19/2018 Microsoft Excel

Hands-On Exercise Two Enter data to create a variable rate mortgage Use File, Save as and save the spreadsheet Enter the =PMT function to calculate payment Use File, Print Preview, Setup button to set print options Use Tools, Options, view tab (show formulas) Use File, Print to obtain a hardcopy of spreadsheet 9/19/2018 Microsoft Excel

Other Functions Statistical Functions Find the largest and smallest numbers in range =MAX(Range), =MIN(Range) Example =MAX(C4:C10) Find the average or mean of a range of numbers =AVERAGE(Range) Example = AVERAGE(D5:D10) Use the Sum function to add cells Type or use button to sum 9/19/2018 Microsoft Excel

Functions Use Function Paste Button to locate function Statistical Category 9/19/2018 Microsoft Excel

If Function Use the If function when asking questions regarding data Format =IF(Condition, value if true, Value if false) Example =IF (H5 = “S”, “Salary”, “Commissioned”) 9/19/2018 Microsoft Excel

9/19/2018 Microsoft Excel