Lecture 20 - Excel 4

Lecture 20 - Excel 4 - CS170 Computer Applications for...

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Unformatted text preview: CS170 Computer Applications for Business Fall 2008 Instructor: Kristian Stout Lecture 20 Introduction to Spreadsheets Readings: Chapter 14 Topics List: Spreadsheets Lecture 4 More Excel Functions Some JS Review PMT Function The PMT function returns the periodic (in this case monthly) payment for an annuity (in this case a loan). There are a few things that we must know in order for this function to work. To calculate the monthly installments we must know a combination of the following - (rate) interest rate per month - (NPER) number of payments until repaid - (PV) present value of the loan (amount we are borrowing) - (FV) future value of the money (for saving or investing) - (type) enter 0 or 1 to indicate when payments are due. (0=Payment at the end of period, 1=Payment at the beginning of the period) Syntax is: =PMT(rate, NPER, PV, FV, type) PMT Function Equation goes into c7 =PMT(C4/12,C5,-C3)- C4 is the yearly interest and since it's compounded monthly we divide by 12 C5 is the number of months (# of payments) -C3 is the amount of money we have (borrow represented by negative) Note that the rate is per period. If we have an annual interest rate of 9.6% and we are calculating monthly payments, we must divide the annual interest rate by 12 to calculate the monthly interest rate. VLOOKUP Function It is used to look up one value and return one value...
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This note was uploaded on 02/07/2011 for the course COMP 178 taught by Professor Stout during the Fall '08 term at Rutgers.

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Lecture 20 - Excel 4 - CS170 Computer Applications for...

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