Excel Chapter 4

Question 1

Arguments

Answer 1

The values that an Excel function uses to perform calculations or operations

Question 2

Data Table

Answer 2

A range of cells that shows how changing certain values in your formulas affect the results of those formulas and that makes it easy to calculate multiple versions in one operation.

Question 3

Data Validation

Answer 3

A technique by which you can control the type of data or the values that are entered into a cell by limiting the acceptable values to a defined list.

Question 4

Defined name

Answer 4

A word or string of characters in Excel that represents a cell, a range of cells, a formula, or a constant value; also referred to as simply a name.

Question 5

Financial functions

Answer 5

Pre-build formulas that perform common business calculations such as calculating a loan payment on a vehicle or calculating how much to save each month to buy something; financial functions commonly involve a period of time such as months or years.

Question 6

Future value (Fv)

Answer 6

The value at the end of the time periods in an Excel function; the cash balance you want to attain after the last payment is made - usually zero for loans.

Question 7

Goal Seek

Answer 7

One of Excel’s What-If-Analysis tools that provides a method to find a specific value for a cell by adjusting the value of one other cell - find the right input when you know the result you want.

Question 8

HLOOKUP

Answer 8

An Excel function that looks up values that are displayed horizontally in a row.

Question 9

Interest

Answer 9

The amount charged for the use of borrowed money

Question 10

Lookup functions

Answer 10

A group of excel functions that look up a value in a defined range of cells located in another part of the workbook to find a corresponding value.

Question 11

Name

Answer 11

A word or string of characters in Excel that represents a cell, a range of cells, a formula, or a constant value; also referred to as a defined name.

Question 12

nper

Answer 12

The abbreviation for number of time periods in various Excel functions.

Question 13

One-variable data table

Answer 13

A data table that changes the value in only one cell.

Question 14

PMT function

Answer 14

An Excel function that calculates the payment for a loan based on constant payments and at a constant interest rate.

Question 15

Present value (Pv)

Answer 15

The total amount that a series of future payments is worth now; also know as the principal.

Question 16

Principal

Answer 16

Another term for present value

Question 17

Rate

Answer 17

In the Excel PMT function, the term used to indicate the interest rate for a loan

Question 18

Scope

Answer 18

The location within which a defined name is recognized without qualification - usually either to a specific worksheet or to the entire workbook.

Question 19

Table array

Answer 19

A defined range of cells, arranged in a column or a row, used in a VLOOKUP or HLOOKUP function.

Question 20

Two-variable data table

Answer 20

A data table that changes the values in two cells

Question 21

Type argument

Answer 21

An optional argument in the PMT function that assumes that the payment will be made at the end of each time period.

Question 22

Validation list

Answer 22

A list of values that are acceptable for a group of cells; only values on the list are valid and any value not on the list is considered invalid.

Question 23

VLOOKUP

Answer 23

An Excel function that looks up values that are displayed vertically in a column.

Question 24

What-If-Analysis

Answer 24

The process of changing the values in cells to see how those changes affect the outcome of formulas in a worksheet.