ISTM 210 Exam 2 with Excel Questions With
100% Correct Answers 2024
1). Rate
Ans: calculates the interest rate earned for an investment given the number of
payments made as part of the investment, the payment amount, and the current value of
the investment.
(nper, pmt, pv, [fv], [type], [guess])
=RATE(Number of Payments, Monthly Payment Amount, Loan Amount)*12
2). Effect
Ans: calculates the annual percentage rate for an interest rate given the number of
times per year that interest is charged.
(nominal_rate, npery)
=effect(Interest Rate, Number of Payments per year)
3). Nper
Ans: calculates the number of payments that will be made to pay off a loan given the
interest rate, payment amount, and original loan amount.
Ans: calculates the payment amount for a loan given the interest rate, number of
payments to be made to pay off the loan, and the original loan amount.
(rate, nper, pv, [fv], [type])
=PMT(Interest Rate/12, Number of Payments, Loan Amount)
5). Pv
Ans: calculates the current value (accounting for compounding interest) of an
investment given the interest rate, number of payments to be made, and the amount of
the payment.
(rate, nper, pmt, [fv], [type])
=PV(Interest Rate/12, Number of Months, Monthly Payment Amount)
6). Fv
Ans: calculates the future value of an investment given the interest rate, number of
payments to be made, and the amount of the payment.
(rate, nper, pmt, [pv], [type])
=FV(Interest Rate, Savings per Month, Number of Months)
Ans: returns the day portion of a date (a number between 1 and 31)
16). Month (serial_number)
Ans: returns the month portion of a date (a number between 1 and 12)
17). Year (serial_number)
Ans: returns the year portion of a date (a number between 1900 and 9999)
18). Weekday (serial_number, [return_type])
Ans: returns the day of the week for a date
19). Weeknum (serial_number, [return_type])
Ans: returns the week of the year for a date
20). Hour (serial_number)
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