Exam 11: Excel Lesson 5: Using Functions

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Date and time functions are used to format and work with cell contents.

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As an example of a financial function, =____________________(.1,5,-500) displays the current value of five payments of $500 at a 10% interest rate.

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Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. Cheryl has found the formula she wants to use by using Formula AutoComplete. How can she access a Screen Tip to guide her in entering the necessary arguments?

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The present value of a loan based on equal payments is written as ____.

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In the IF function, the third argument determines the value that appears in the cell if the logical test is ____.

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Please briefly describe the DATE and NOW functions, including how the formula is written, any arguments involved, and a situation of when you would use that function: DATE and NOW.

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