FULL SUMMARY of Excel from BUS-K201 at the Kelley School of Business at Indiana University. Includes notes on Aggregate and Text functions, Data Validation, Retrieval functions, Logical functions and Loan Amortization, Nested IFs with AND and OR functions, Data Tables, Overall tips, and more..
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Conditional aggregates: functions that summarize data to meet specific criteria
How many times? COUNT function
COUNTIFS: tells how many cells in a range meet a given criterion
- If a criteria is anything but a simple numeric value or cell reference, must be placed in
QUOTES
SUMIFS: total quantity with a criteria
Calculating Interest Rate
APR- interest expressed as an annual percentage rate, the percentage is calculated against how
much of the borrowed money has yet to be repaid
- Lower interest rate results in smaller fees
RATE(nper, pmt, pv, [fv], [type])
nper: total number of payments being made
pmt: regularly occurring payment amount
pv: present value– the total amount that a series of future payments is worth now
- If you take out a loan for $10,000, the present value is $10,000
[fv]: future value or a cash balance you want to attain after the last payment is made
[type]: indicator of whether the payment is being made at the beginning or end of the payment
period
- Value of 0 means end, value of 1 meaning beginning
Arguments representing monetary amts can be either positive or negative depending on whether
the money is being received or spent.
PMT(rate, nper, pv, [fv], [type])
rate: the per-period interest rate
nper: total number of payment periods
pv: the amt of money borrowed
[fv]: optional argument used to specify the amt of debt you want remaining (if any) after the last
periodic payment
[type]:optional indicator of whether the payment is being made at the beginning or end of the
payment period
- Value of 0 means end, value of 1 meaning beginning
, Amount to finance = loan amount
PPMT and IPMT have the same arguments
Loan table must end with a zero balance
PPMT + IPMT should equal the payment
The principal is what goes towards the balance of the loan. Interest is what the banks earn and
does not go towards decreasing the balance of the loan.
Think about the flow of cash to determine if PV or FV should be negative
If we need to output different values on a cell, not just change its format, based on whether some
condition is true
IF(logical_test, value_if_true, vaue_if_false)
Logical_test: condition you want excel to evaluate as being either TRUE or False.
- Contain some type of comparison (=,<>,<)
Value_if_true: result you want excel to output if the logical test argument evaluates true
Value_if_false: result if logical test is false
AND FUNCTION
If function accommodates a single logical test, if multiple conditions must ALL BE TRUE for a
particular output to apply, we use the AND function inside the IF
AND(logical1, logical2, logical3,..)
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