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3_financial formulas and lookup functions
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3_financial formulas and lookup functions
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3_financial formulas and lookup functions3.1 Why do you need double quotes in this formula?
=SUMIF(B5:B20,"200000",B5:B20) - ANSWER You don't need double quotes in
this case, so they can be safely deleted
3.2 When is the IFS function MOST useful as a replacement for the normal IF
function? - ANSWER When you have a complex, nested IF statement with
multiple logical tests.
3.3 What is the difference between the COUNT and COUNTA functions? -
ANSWER COUNTA includes all non-blank cells, but COUNT includes only non-
blank cells with numbers.
3.4 Which of the following is NOT allowed when you enter the IRR function in
Excel? - ANSWER A non-negative number as the first entry in the series of
values.
"Zero" cash flow entries denoted by blank cells rather than hard-coded 0's.
A negative number followed by all negatives or 0's and no positives.
3.5 What is one key limitation of the IPMT and PPMT functions? - ANSWER The
interest rate must be fixed.
, 3.6 What is the most appropriate use case for the "Paste Links" command? -
ANSWER Inserting rows of dates into new schedules.
Creating summary pages.
Re-using existing data on another spreadsheet.
3.7 Why is it so important to select the correct cell range when using VLOOKUP
and HLOOKUP? - ANSWER Because these functions only move from left to right
or top to bottom.
Because these functions only search the leftmost column or top row of a range.
Because Excel will not alert you about a mismatched range; it will just generate an
error message.
3.8 When entering the INDEX function in Excel, can you omit the "Column
Number" input at the end of the function? - ANSWER Yes, but only if the
indexed range has 1 column.
3.9 When using INDEX and MATCH to select assumptions based on a scenario in a
financial model, why do you often leave out the Column Number input? -
ANSWER Because the indexed area is typically just 1 column wide.
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