MBA's Guide to Microsoft Excel
Chapter 5
Financial Calculations
Although most Excel users—even most advanced business users—will have scant occasion to use all of the financial functions that Excel provides, almost everybody will use at least a handful of these time-saving functions. Calculating a mortgage or car loan payment requires use of the PMT function. Estimating the future value of an investment requires use of the FV function. Computing the interest rate implicit in a set of loan or investment terms requires the RATE, IRR, or MIRR functions. This chapter explains how you can use any of the financial functions that come with Excel—both those that are always available and those you can use after installing the Analysis ToolPak add-in.