In Chapter 5 you should understand the functions:
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VLOOKUP
(LOOKUP_VALUE, TABLE_ARRAY, COL_INDEX_NUM, RANGE_LOOKUP)
Search specified part of worksheet vertically
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HLOOKUP
(LOOKUP_VALUE, TABLE_ARRAY, ROW_INDEX_NUM, RANGE_LOOKUP)
Similar to vlookup except it searches a horizontal lookup table in which data is stored
in rows instead of columns
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LOOKUP
(LOOKUP_VALUE, LOOKUP_VECTOR, RESULT_VECTOR)
Looks up the greatest value that doesn’t exceed a specified value anywhere in a table/
range
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INDEX
(REFERENCE, ROW_NUM, COLUMN_NUM, AREA_NUM)
Returns the value in a table based on the row and column numbers that you specify (allows to
retrieve data from multidimensional tables)
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CHOOSE
(INDEX_NUM, VALUE1, VALUE2, …)
Reference/Lookup function that can return a value or range for up to 29 different values
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ISBLANK
(VALUE)
To check if a specified range exists
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In Chapter 6 you should be familiar with financial concepts of interest (simple or
compound), principal, amortization schedules, cash flows
Simple Interest=
interest that is paid soley on the amount of the original principal value
principal * Interest rate per time period * # of periods
Compound Interest=
adding interest earned each period to the principal
Annual Percentage Yield-
Yearly simple interest rate taking into account compounding
Annual Percentage Rate-
reflects interest being paid on the actual amount borrowed
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RATE (NPER, PMT, PV, FV, TYPE
Solvers for the interest rate per period
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NPER (RATE, PMT, PV, FV, TYPE)
solves for the number of periods
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PMT (RATE, NPER, PV, FV, TYPE)
solves for the value of the payment per period
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PV (RATE, NPER, PMT, FV, TYPE)
solves for the initial value, the amount in or out at the beginning of the financial
transaction
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FV (RATE, NPER, PMT, PV, TYPE)