1. =SUM(A14,A8)
2. =C8+ 15
3. PMT function {PMT(D4D12,E4,-C4)}
What will each of the above formulas do
please see if I have the correct answer using excel or another spreadsheet document.
1. Is the sum between the two blocks listed the more blocks the more #'s to the equation, it helps when the #'s change and the total has to be adjusted, the program will do it automatically for you( The same reason for all equations)
2. This would be the block in question plus 15
3. Calculates the payment for a loan based on constant payments and a constant interest rate. PMT(rate,nper,pv,fv,type)
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due