Tutorial 3: Working with Formulas and Functions

New Perspectives Excel 2010

Tutorial 3: Working with Formulas and Functions

Key Terms

absolute reference A cell reference thatremains fixed when the cell formula is copied to a new location. (EX 116)

argument The numbers, text, or cell references used by the function to return a value. (EX 117)

AutoFill A feature thatcopies content (text, values, or formulas) and formats from a cell or range into an adjacent cell or range. (EX 139)

AVERAGE function A function thatreturns the average value of the range. (EX 117)

comparison operator A symbol that indicates the relationship between two values. (EX 152)

compound interest Interest that is applied not only to the principal but also to any accrued interest. (EX 157)

date function A function that inserts or calculates dates and times. (EX 138)

fill handle A small black square in the lower-right corner of a selected cell or range that you drag over an adjacent cell or range to copy the original content and formatting into the selected range. (EX 139)

financial function A function related to monetary calculations, such as loans and payments. (EX 138)

IF function A logical function that tests a condition and then returns one value if the condition is true and another value if the condition is false. (EX 138)

interest The amount added to the principal by the lender. (EX 157)

logical function A function that works with statements that are either true or false. (EX 138)

MAX function A function thatreturns the maximum value of the values in a range. (EX 117)

median The middle value in data. (EX 130)

MIN function A function thatreturns the minimum value in the range. (EX 117)

mixed reference A cell reference thatcontains an absolute row (such as $D6) or an absolute column (such as D$6). (EX 117)

mode The most common value in data. (EX 130)

nest To place one function inside another function. (EX 130)

optional argument An argument that is not required for the function to return a value. (EX 117)

PMT function A financial function that calculates the monthly payment required to pay back a loan. (EX 139)

principal The amount of money being loaned. (EX 157)

relative reference A cell reference thatis interpreted in relation to the location of the cell containing the formula. (EX 116)

required argument An argument that is needed for the function to return a value. (EX 117)

simple interest Interest that is equal to a percentage of principal for each period that the money has been lent. (EX 157)

SUM function A function thatreturns the sum of the values in the range. (EX 117)

syntax A set of rules that specifies how the function should be written. (EX 127)

TODAY function A date function that displays the current date. (EX 138)