1. Working with Functions
Excel Lesson 5

2. Function Pre-written formula that is built into Microsoft Excel
Insert Function button is located on the Formula Bar
Example:
=sum(b5:e10)
=max(b5:b12)

3. Argument
Argument: A component of a function that is enclosed in parentheses (John Wiley & Sons, Inc., 2012)

4. Date Functions =today() Returns the current date =now()
Returns the current date and time

5. Sum Functions Sum: adds data in a range of cells
AutoSum: displays the total of the selected cells directly after the selected cells
Example:
=SUM(a3:c3)
=SUM(a3:c3,b10) the comma allows you to add separate cells not included in the range

6. Types of Functions
CountA: counts the number of cells that are not empty (John Wiley & Sons, Inc., 2012)
Includes text cells
Example:
=COUNTA(b10:c20)

7. Types of Functions
Count: a statistical function that counts the number of cells within a range that have numerical data
Example:
=COUNT(a3:d10)
Cells that do have any text are not included in the count (John Wiley & Sons, Inc., 2012)
Cells that have zeros are included in the count

8. Types of Functions
Average: calculates the average of the selected range of cells
MIN: calculates the lowest number in the selected range of cells
MAX: calculates the highest number in the selected range of cells

9. Payment Function
Function that calculates a loan payment based off the interest rate, loan amount, and loan duration
=pmt(rate,nper,pv)
Rate is the interest rate
Nper is the number of payments for the loan (should be in months)
Pv is refers to how much a person owes for the loan

10. Payment Function
When working with the PMT function, include a negative sign directly after the equal sign because Excel automatically calculates a payment as a negative number
Example: =-PMT(C2,C3,C4)
C2 is the interest rate
The interest rate is a monthly interest rate (if it is annual, the number must be divided by 12)
C3 is the number of payments for the loan
Measured in months
If you have 2 years of payments, then you multiply 2 times 12 to get 24 payments
C4 is the loan amount

11. Subtotal Function Allows the user to calculate subtotals for data
=Subtotal(function number, reference)
Function numbers go from 1-11, where 9 is the SUM function

12. Checking for Errors
A triangle will appear at the top left hand corner of the cell as well as a diamond with an exclamation point inside
Trace Arrows – show the relationship between a formula and the cell references that are used in that formula (John Wiley & Sons, Inc., )

13. Functions
If data in a cell change, the result will automatically be calculated with the new data
To specify when a formula is computer, the user can go to Formulas > Calculation > Calculation Options

14. Source
Microsoft Official Academic Course Microsoft Excel John Wiley & Sons, Inc., John Wiley & Sons, Inc. (2012). Microsoft Official Academic Course Microsoft Excel 2010, Exam