PMT Exam Questions & Answers 2023/2024
PMT - ANSWER-To calculate the size of the monthly or quarterly payments required to pay off a loan or meet an investment goal; used to determine how much you have to spend each month to repay a loan within a set period of time
NPER - ANSWER-To calculate ...
PMT Exam Questions & Answers
2023/2024
PMT - ANSWER-To calculate the size of the monthly or quarterly payments required to pay off a loan or
meet an investment goal; used to determine how much you have to spend each month to repay a loan
within a set period of time
NPER - ANSWER-To calculate the number of monthly or quarterly payments required to pay off a loan or
meet an investment goal
PPMT - ANSWER-To calculate the amount of a loan payment used to pay off the principal of the loan
IPMT - ANSWER-To calculate the amount of interest due in a specified payment period from a loan
Using functions with Loans - ANSWER-positive cash flow because it represents a payment to the
company
Using functions with Investments - ANSWER-Initial investment is a negative cash value an the periodic
returns from the investment are positive cash values
Cash flow - ANSWER-concerned with the direction of the money as it moves into and out of a company
IF Function - ANSWER-logical function that evaluates a condition (logical test), and then returns one
value if the condition is true and another value if the condition is false
AND Function - ANSWER-a logical function that returns a true value if all the logical conditions are true
and a false if any or all of the logical conditions are false
Lookup Table - ANSWER-a table that organizes data you want to retrieve into different categories called
compare values are located in the table's first column or row
, To determine whether a lookup value falls within a range of values in a lookup table - ANSWER-searches
the first column of the table until it locates the largest value that is still less than the lookup value. Then
excel moves across the table to retrieve the data from the appropriate row
COUNTIF - ANSWER-counts the number of cells within a range that meets a criteria
SUMIF - ANSWER-range: the range of cells that you want to filter before calculating a sum
criteria: the condition used in the range to filter the data
Sum Range: the range of cells that you want to add
AVERAGEIF - ANSWER-calculates the average of values within a range of cells that meet multiple
conditions
Column Chart - ANSWER-displays values in different categories as columns; height is based on value
Bar Chart - ANSWER-column chart turned on its side
Column Chart has - ANSWER-chart title and a legend that identifies different data series rather than
values within a data series rather than values within a data series; vertical axis displays the values
associated with the heights of each column
Scale - ANSWER-range of values that spans the vertical axis
Major Tick Mark - ANSWER-acts like lines on a ruler making it easier to read the scale
Gridlines - ANSWER-extend the tick marks across the chart. Horizontal axis displays the categories
associated with each data value
Formatting the chart columns - ANSWER-you can reduce or increase the column spacing and change the
color or appearance of the columns; either a single column or the entire series
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