DAY 6: MICROSOFT EXCEL – CHAPTER 2 CONTD. Aliya Farheen September 3, 2015

REMINDER MyITLab Lesson A – Monday 09/08/2015 by 11:59 pm. HW#1- Friday 09/11/2015 by 11:59 pm.

ANNOUNCEMENTS MyITLab Lesson B is due on Monday, September 14, 2015 by 11:59 pm. Homework #2 –Excel is posted on the website. Due date for HW #2 is Friday, September 18, 2015 by 11:59 pm.

MICROSOFT EXCEL – CHAPTER 2 CONTD.

LOOKUP FUNCTIONS Lookup functions are used to look up values in a table to perform calculations or display results A Lookup table is a range that contains data for the basis of the lookup and data to be retrieved.

CREATE LOOK UP TABLE Look Up table should at least contain two rows and two columns, not including the headings.

VLOOKUP Used to gauge an entered value against a range of corresponding results Well suited for large tables of data, such as tax tables Also to convert the number grades into letter grades Has three mandatory arguments

VLOOKUP(CONTD.) Syntax =VLOOKUP(lookup_value,table_array, col_index_number, [range lookup]) The lookup value ─ value to look up in a reference look up table. The table_array ─ a range of cells containing the reference table The col_index_number ─ the column number in the lookup table that contains return values.

EXAMPLE Converting the Number grades to the letter grades. VLOOKUP(E3,$A$3:$B$7,2)

HLOOKUP FUNCTION The HLOOKUP function is used when the breakpoints and return data are placed in rows The third argument now lists the row index Syntax =HLOOKUP(lookup_value,table_array, row_index_number, [range lookup])

FINANCIAL FUNCTIONS Used for decisions involving payments, investments, interest rates, etc. Allows you to consider several alternatives Example :PMT function

PMT FUNCTION Used to calculate loan payments Has three arguments: –the interest rate per payment period –the number of periods –the amount of the loan Computes the associated payment on a loan

PMT(CONTD.) Syntax: Pmt( interest_rate, number_payments, PV, [FV],[Type] ) Example: –Pmt(7%/12, 2*12, 5000, 0, 0) –returns the monthly payment on a $5,000 loan at an annual rate of 7%. The loan is paid off in 2 years (ie: 2 x 12). – E2 - 7% ; E ; E4 - $5, – PMT ( E2/12, E3, - E4 )