1. Pasewark & Pasewark Microsoft Office XP: Introductory Course 1 INTRODUCTORY MICROSOFT EXCEL Lesson 5 – Function Formulas

2. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 2 Objectives Identify the parts of a function formula. Use function formulas to solve mathematical problems. Use function formulas to solve statistical problems. Use function formulas to solve financial problems. Use function formulas to insert times and dates in a worksheet. Use logical function formulas to make decisions with worksheet data.

3. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 3 Terms Used in This Lesson Argument Financial function Function formula Logical function Mathematical function Statistical function Trigonometric function

4. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 4 Identify the Parts of a Function Formula A function formula has three components: – the equal sign – a function name – an argument The argument is a value, cell reference, range, or text that acts as an operand in a function formula. Example: =SUM (E4:E22)

5. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 5 Solving Mathematical Problems Mathematical and trigonometric functions are particularly useful for determining values such as: – Logarithms – Factorials – Sines – Cosines – Tangents – Absolute values

6. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 6 Mathematical and Trigonometric Functions FunctionOperation SQRT(number) Displays the square root of the number identified in the argument ROUND(number,num_digits) Displays the rounded value of a number to the number of places designated by the second argument LN(number) Displays the natural logarithm of a number

7. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 7 Solving Statistical Problems Statistical functions can also be used to determine: – Average – Standard deviation – Variance – Maximums – Minimums – Counts

8. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 8 Statistical Functions FunctionOperation AVERAGE(NUMBER1,NUMBER2..) Displays the average of the range identified in the argument COUNT(VALUE1,VALUE2…) Displays the number of cells with numerical values in the argument range MAX(NUMBER1,NUMBER2…)Displays the largest number contained in the range MIN(NUMBER1,NUMBER2…)Displays the smallest number contained in the range STDEV(NUMBER1,NUMBER2…)Displays the standard deviation of the numbers in the range VAR(NUMBER1,NUMBER2…)Displays the variance for the numbers in the range

9. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 9 Solving Financial Problems Financial functions are used to analyze loans and investments: – Value of a series of equal payments – Present value of an investment – Payments required to repay a loan

10. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 10 Financial Functions FunctionOperation FV(rate,nper,pmt,pv,type)Displays the future value of a series of equal payments at a fixed rate for a specified number of periods. PV(rate,nper,pmt,fv,type)Displays the present value of a series of equal payments at a fixed rate for a specified number of payments. PMT(rate,nper,pv,fv,type)Displays the payment per period needed to repay a loan at a specified interest rate for a specified number of periods. The rate and term functions should be compatible. If payments are monthly rather than annual, divide the annual rate by 12 to determine the monthly rate.

11. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 11 Inserting Times and Dates Date and time functions may be used to – Convert serial numbers to a month, a day, or a year – Insert the current date or current time.

12. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 12 Date, Time, and Text Functions FunctionOperation DATE(year,month,day)Displays the date in a variety of formats such as 12/17/07 or December 17, 2007 NOW()Displays the current date or time based on the computer’s clock. REPT(text,number_times)Displays the text a specified number of times. For example, REPT(B6,3) will repeat the text in cell B6 three times.

13. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 13 Using Logical Function Formulas Logical functions, such as the IF function, may be used to display text or values if certain conditions exist. For example the IF function will determine whether a student has passed or failed a course. The function formula IF(C4>60,“PASS”,“FAIL”) will display “PASS” if the value in C4 is greater than 60 and “FAIL” if the value in C4 is not greater than 60.

14. Excel – Lesson 5 Microsoft Office XP: Introductory Course Pasewark & Pasewark 14 Summary Function formulas are special formulas that do not require operators. Excel has more than 300 function formulas. Function formulas may be used to perform mathematical, statistical, financial, and logical operations. Function formulas may also be used to format text and insert dates and times.