Microsoft Excel 2010 Digital Classroom by AGI Training Team

Author:AGI Training Team
Language: eng
Format: epub
Publisher: Wiley
Published: 2011-01-15T00:00:00+00:00

You can choose a function from a variety of categories.

7 In the Insert Functions dialog box that opens, select Financial from the Or select a category drop-down menu. In the Select a function section, scroll down to select PMT, and then click OK. Excel displays the Function Arguments dialog box.

In the Insert Functions dialog box that opens, select Financial from the Or select a category drop-down menu.

8 Click in the Rate text field, and type B2 or click on the cell B2. Excel displays the value of cell B2 (.04) to the right of the text field.

9 Click in the Nper text field, and type B3 or click on the cell B3. Excel displays the value of cell B3 (5) to the right of the text field.

10 Click in the Pv text field, and type B4 or click on the cell B4. Excels displays the value of cell B4 (10000) to the right of the text field.

11 Click OK, and Excel displays the formula in cell B5. The annual payment is $2,246.27. Excel displays the data as currency because this is a financial function. Lesson 3 “Editing Cells,” explains how to format cells for different results. Notice that the result appears in parentheses to indicate a negative value. In loan calculations, money that you pay is always a negative amount. You can now save and close this document.

12 Click File > Save, and then click File > Close.

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