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Master Financial Functions in Excel: PMT, CUMIPMT, FV, and IF

In this lesson, you will learn how to effectively use key financial functions in Excel, including PMT for forecasting loan payments, CUMIPMT for calculating cumulative interest, FV for determining investment value, and IF for logical tests. Step-by-step instructions will guide you through selecting functions, entering parameters such as interest rates and payment periods, and ultimately applying these tools to manage financial data with confidence. Enhance your Excel skills to make informed financial decisions.

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Master Financial Functions in Excel: PMT, CUMIPMT, FV, and IF

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  1. After completing this lesson, you will be able to: • Use the PMT function to forecast loan payments. • Calculate cumulative interest. • Compute investment value. • Use the IF function.

  2. Using the Payment (PMT) Function To use the Payment (PMT) function • Click the cell that will contain the formula. • On the Insert menu, click Function. • In the Or select a category list, click Financial. • In the Select a function list, click PMT and click OK. • Enter the interest rate, number of payments, and principal. • Click OK.

  3. Using the Cumulative Interest (CUMIPMT) Function To use the Cumulative Interest (CUMIPMT) function • Click the cell that will contain the formula. • On the Insert menu, click Function. • In the Or select a category list, click Financial. (continued)

  4. Using the Cumulative Interest (CUMIPMT) Function To use the Cumulative Interest (CUMIPMT) function (continued) • In the Select a function list, click CUMIPMT and click OK. • Enter the interest rate, number of payment periods, and principal. • Enter the start period, end period, and type and then click OK.

  5. Using the Future Value (FV) Function To use the Future Value (FV) function • Click the cell that will contain the formula. • On the Insert menu, click Function. • In the Or select a category list, click Financial. (continued)

  6. Using the Future Value (FV) Function To use the Future Value (FV) function (continued) • In the Select a function list, click FV and click OK. • Enter the interest rate, number of payment periods, and payment amount. • Click OK.

  7. Using the IF Function To use the IF function • Click the cell that will contain the formula. • On the Insert menu, click Function. • In the Or select a category list, click Logical. (continued)

  8. Using the IF Function To use the IF function (continued) • In the Select a function list, click IF and click OK. • Type the Logical_test expression, the Value_if_true, and the Value_if_false. • Click OK.

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