Exam 7: Excell: Formulas and Functions

There are rare occasions when both the second and third argument of an IF function are executed.

FV is a required argument in the PMT function.

If you will never copy and paste a formula you do not have to be concerned about absolute, relative, or mixed references.

Which of the following is not a valid lookup function?

The PMT function uses three required arguments and no optional arguments.

If you wanted to count the number of entries in a list that contained numbers, text, and blank cells, but ignore the text and blank cells, which function would you use?

You could use both A3>b9 or B9<A3 as the test in an IF function and get the same results. You would just switch the second and third arguments.

What does the AVERAGE function not ignore?

What function computes the value in which one-half of the data is above and one-half is below.

Match the following terms with their description: i. Absolute cell references II. Relative cell references III. Mixed cell references IV. Argument v. Function

The ________ function finds the largest value in a range.

What does Excel use to indicate optional arguments in a function?

The TODAY() and NOW() functions are updated every time you open or ________ the spreadsheet.

All IF functions have three arguments.

If you wanted to reference a cell in a formula and you did not want that cell to change when copying and pasting you would use what kind of reference?

It is called a(n) ________ function when a function is used inside of another function.

Where does Excel automatically display statistics like count, average, and sum when a range of values is selected?

The two optional arguments in the PMT function allows the function to be used with variable loans.

If the cell reference $A5 in a formula is copied and pasted over two columns and down two rows from its original cell, what the cell reference become in the new cell?

If the annual interest rate is 12% and payments are made monthly, then you would enter .01 in the ________ argument in the PMT function.