Excel Chapter 7

Question 1

CUMPRINC function

Answer 1

calculates cumulative principal for a specific payment period

Question 2

CUMIPMT function

Answer 2

calculates cumulative interest for a specific payment period

Question 3

loan amortization table

Answer 3

a schedule showing monthly payments, interest per payment, amount toward paying off a loan, and the remaining balance for each payment

Question 4

PPMT function

Answer 4

calculates the principal payment for a specified payment period on a loan or an investment given a fixed rate, a specified term, and identical periodic payments

Question 5

IPMT function

Answer 5

calculates periodic interest for a specific payment period on a loan or investment with a fixed rate, a specified term, and identical periodic payments

Question 6

AND function

Answer 6

returns TRUE when all arguments and true and FALSE when at least one argument is false