ISTM 210 Exam 2 Questions and Answers (2026/2027) | Complete Study Guide | Verified Solutions | A+

ISTM 210 Exam 2 Questions and Answers
(2026/2027) | Complete Study Guide | Verified
Solutions | A+
• RATE -✓✓calculates the interest rate earned for an investment given the number
of payments made as part of the investment, the payment amount, and the current
value of the investment.

(nper, pmt, pv, [fv], [type], [guess])

=RATE(Number of Payments, Monthly Payment Amount, Loan Amount)*12

• EFFECT -✓✓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 -✓✓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 -✓✓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 -✓✓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 -✓✓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 -✓✓=COUNT(range)

• COUNTIF -✓✓=COUNTIF(range, criteria)

• SUMIF -✓✓=SUMIF(range, criteria, [sum_range])

• AVERAGEIF -✓✓=AVERAGEIF(range, criteria, [average_range])

• VLOOKUP -✓✓=VLOOKUP(lookup_value, table_array, col_index_num,
[range_lookup])

• HLOOKUP -✓✓=HLOOKUP(lookup_value, table_array, row_index_number,
[range_lookup])

• TODAY () -✓✓returns the current date

• NOW () -✓✓returns the current time

• DAY (serial_number) -✓✓returns the day portion of a date (a number between 1
and 31)

• MONTH (serial_number) -✓✓returns the month portion of a date (a number
between 1 and 12)

• YEAR (serial_number) -✓✓returns the year portion of a date (a number between
1900 and 9999)

, • WEEKDAY (serial_number, [return_type]) -✓✓returns the day of the week for a
date

• WEEKNUM (serial_number, [return_type]) -✓✓returns the week of the year for
a date

• HOUR (serial_number) -✓✓returns the hour portion of a time as a number from
0 to 23

• MINUTE (serial_number) -✓✓returns the minute portion of a time as a number
from 0 to 59

• SECOND (serial_number) -✓✓returns the second portion of a time as a number
from 0 to 59

• LEN (text) -✓✓returns the length, in number of characters, of a block of text

• SEARCH (find_text,within_text, [start_num]) -✓✓returns the position of a
specific character, word, or phrase within a block of text

• LEFT (text,[num_chars]) -✓✓returns a specified number of characters starting
from the beginning of a block of text

• MID(text,start_num,num_chars) -✓✓returns a specified number of character
from the middle of a block of text

• RIGHT(text,[num_chars]) -✓✓returns a specified number of characters starting
from the end of a block of text

• UPPER (text) -✓✓converts a block of text to all upper-case characters

• LOWER (text) -✓✓converts a block of text to all lower-case characters

• PROPER (text) -✓✓converts a block of text to title-case (the first letter of each
new word is capitalized)

• CONCATENATE (text1,[text2],...) -✓✓combines blocks of text