TAMU ISTM 210 EXAM 2 EXAMPREP STUDY GUIDE QUESTIONS AND CORRECT ANSWERS COMPLETE REVIEW MATERIAL

TAMU ISTM 210 EXAM 2 EXAMPREP STUDY
GUIDE QUESTIONS AND CORRECT
ANSWERS COMPLETE REVIEW MATERIAL

●● EFFECT
Answer: calculates the annual percentage rate for an interest rate given
the number of times per year that interest is charged.


(nominal_rate, npery)


=effect(Interest Rate, Number of Payments per year)


●● NPER
Answer: calculates the number of payments that will be made to pay off
a loan given the interest rate, payment amount, and original loan
amount.


(rate, pmt, pv, [fv], [type])


=NPER(Interest Rate/12, Monthly Payment Amount, Loan Amount)


●● PMT

,Answer: calculates the payment amount for a loan given the interest rate,
number of payments to be made to pay off the loan, and the original loan
amount.


(rate, nper, pv, [fv], [type])


=PMT(Interest Rate/12, Number of Payments, Loan Amount)


●● PV
Answer: calculates the current value (accounting for compounding
interest) of an investment given the interest rate, number of payments to
be made, and the amount of the payment.


(rate, nper, pmt, [fv], [type])


=PV(Interest Rate/12, Number of Months, Monthly Payment Amount)


●● FV
Answer: calculates the future value of an investment given the interest
rate, number of payments to be made, and the amount of the payment.


(rate, nper, pmt, [pv], [type])

,=FV(Interest Rate, Savings per Month, Number of Months)


●● COUNT
Answer: =COUNT(range)


●● COUNTIF
Answer: =COUNTIF(range, criteria)


●● SUMIF
Answer: =SUMIF(range, criteria, [sum_range])


●● AVERAGEIF
Answer: =AVERAGEIF(range, criteria, [average_range])


●● VLOOKUP
Answer: =VLOOKUP(lookup_value, table_array, col_index_num,
[range_lookup])


●● HLOOKUP
Answer: =HLOOKUP(lookup_value, table_array, row_index_number,
[range_lookup])


●● TODAY ()

, Answer: returns the current date


●● NOW ()
Answer: returns the current time


●● DAY (serial_number)
Answer: returns the day portion of a date (a number between 1 and 31)


●● MONTH (serial_number)
Answer: returns the month portion of a date (a number between 1 and
12)


●● YEAR (serial_number)
Answer: returns the year portion of a date (a number between 1900 and
9999)


●● WEEKDAY (serial_number, [return_type])
Answer: returns the day of the week for a date


●● WEEKNUM (serial_number, [return_type])
Answer: returns the week of the year for a date


●● HOUR (serial_number)