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  • 1. ®Microsoft Office 2010Excel Tutorial 3:Working with Formulasand Functions
  • 2. XPXPXPObjectives• Copy formulas• Build formulas containing relative, absolute,and mixed references• Review function syntax• Insert a function with the Insert Functiondialog box• Search for a function• Type a function directly in a cellNew Perspectives on Microsoft Office Excel 2010 2
  • 3. XPXPXPObjectives• Use AutoFill to fill in a formula and complete aseries• Enter the IF logical function• Insert the date with the TODAY function• Use the PMT financial function to calculatemonthly mortgage paymentsNew Perspectives on Microsoft Office Excel 2010 3
  • 4. XPXPXPVisual OverviewNew Perspectives on Microsoft Office Excel 2010 4
  • 5. XPXPXPCell References and Excel FunctionsNew Perspectives on Microsoft Office Excel 2010 5
  • 6. XPXPXPUnderstanding Cell References• To record and analyze data–Enter data in cells in a worksheet–Reference the cells with data in formulasthat perform calculations on that data• Types of cell references–Relative–Absolute–MixedNew Perspectives on Microsoft Office Excel 2010 6
  • 7. XPXPXPUsing Relative References• Cell reference as it appears in worksheet (B2)• Always interpreted in relation (relative) to thelocation of the cell containing the formula• Changes when the formula is copied toanother group of cells• Allows quick generation of row/column totalswithout revising formulasNew Perspectives on Microsoft Office Excel 2010 7
  • 8. XPXPXPFormulas Using a Relative ReferenceNew Perspectives on Microsoft Office Excel 2010 8
  • 9. XPXPXPUsing Absolute References• Cell reference that remains fixed when theformula is copied to a new location• Have a $ before each column and rowdesignation ($B$2)• Enter values in their own cells; reference theappropriate cells in formulas in the worksheet–Reduces amount of data entry–When a data valued is changed, all formulasbased on that cell are updated to reflect thenew valueNew Perspectives on Microsoft Office Excel 2010 9
  • 10. XPXPXPFormulas Using an Absolute ReferenceNew Perspectives on Microsoft Office Excel 2010 10
  • 11. XPXPXPUsing Mixed References• Contain both relative and absolute references• “Lock” one part of the cell reference while theother part can change• Have a $ before either the row or columnreference ($B2 or B$2)New Perspectives on Microsoft Office Excel 2010 11
  • 12. XPXPXPUsing a Mixed ReferenceNew Perspectives on Microsoft Office Excel 2010 12
  • 13. XPXPXPWhen to Use Relative, Absolute, andMixed References• Relative references– Repeat same formula with cells in differentlocations• Absolute references– Different formulas to refer to the same cell• Mixed references– Seldom used other than when creating tables ofcalculated values• Use F4 key to cycle through different types ofreferencesNew Perspectives on Microsoft Office Excel 2010 13
  • 14. XPXPXPWorking with Functions• Quick way to calculate summary data• Every function follows a set of rules (syntax)that specifies how the function should bewritten• General syntax of all Excel functions• Square brackets indicate optional argumentsNew Perspectives on Microsoft Office Excel 2010 14
  • 15. XPXPXPExcel Function CategoriesNew Perspectives on Microsoft Office Excel 2010 15
  • 16. XPXPXPExcel FunctionsNew Perspectives on Microsoft Office Excel 2010 16
  • 17. XPXPXPWorking with Functions• Advantage of using cell references:–Values used in the function are visible tousers and can be easily edited as needed• Functions can also be placed inside anotherfunction, or nested (must include allparentheses)New Perspectives on Microsoft Office Excel 2010 17
  • 18. XPXPXPChoosing the Right Summary Function• AVERAGE function– To average sample data– Susceptible to extremely large or small values• MEDIAN function– When data includes a few extremely large orextremely small values that have potential to skewresults• MODE function– To calculate the most common value in the dataNew Perspectives on Microsoft Office Excel 2010 18
  • 19. XPXPXPInserting a Function• Three possible methods:–Select a function from a function category inthe Function Library–Open Insert Function dialog box to searchfor a particular function–Type function directly in cellsNew Perspectives on Microsoft Office Excel 2010 19
  • 20. XPXPXPUsing the Function Library to Insert aFunction• When you select a function, the FunctionArguments dialog box opens, listing allarguments associated with that functionNew Perspectives on Microsoft Office Excel 2010 20
  • 21. XPXPXPUsing the Insert Function Dialog Box• Organizes all functions by category• Includes a search feature for locating functionsthat perform particular calculationsNew Perspectives on Microsoft Office Excel 2010 21
  • 22. XPXPXPTyping Functions Directly in Cells• Often faster than using Insert Function dialogbox• As you begin to type a function name within aformula, a list of functions that begin with theletters you typed appearsNew Perspectives on Microsoft Office Excel 2010 22
  • 23. XPXPXPVisual OverviewNew Perspectives on Microsoft Office Excel 2010 23
  • 24. XPXPXPAutofill and More FunctionsNew Perspectives on Microsoft Office Excel 2010 2424
  • 25. XPXPXPEntering Data and Formulas withAutoFill• Use the fill handle to copy a formula andconditional formatting–More efficient than two-step process ofcopying and pasting• By default, AutoFill copies both content andformatting of original range to selected rangeNew Perspectives on Microsoft Office Excel 2010 25
  • 26. XPXPXPEntering Data and Formulas withAutoFillNew Perspectives on Microsoft Office Excel 2010 26
  • 27. XPXPXPEntering Data and Formulas withAutoFill• Use Auto Fill Options button to specify what iscopiedNew Perspectives on Microsoft Office Excel 2010 27
  • 28. XPXPXPEntering Data and Formulas withAutoFill• Use AutoFill to create a series of numbers,dates, or text based on a pattern• Use Series dialog box for more complexpatternsNew Perspectives on Microsoft Office Excel 2010 28
  • 29. XPXPXPEntering Data and Formulas withAutoFillNew Perspectives on Microsoft Office Excel 2010 29
  • 30. XPXPXPEntering Data and Formulas withAutoFillNew Perspectives on Microsoft Office Excel 2010 30
  • 31. XPXPXPWorking with Logical Functions• Logical functions–Build decision-making capability into aformula–Work with statements that are either trueor false• Excel supports many different logicalfunctions, including the IF functionNew Perspectives on Microsoft Office Excel 2010 31
  • 32. XPXPXPWorking with Logical Functions• Comparison operator–Symbol that indicates the relationshipbetween two valuesNew Perspectives on Microsoft Office Excel 2010 32
  • 33. XPXPXPUsing the IF FunctionNew Perspectives on Microsoft Office Excel 2010 33• Returns one value if a statement is true andreturns a different value if that statement isfalse• IF (logical_test, [value_if_true,] [value_if_false])
  • 34. XPXPXPWorking with Date Functions• For scheduling or determining on what days ofthe week certain dates occurNew Perspectives on Microsoft Office Excel 2010 34
  • 35. XPXPXPFinancial Functions for Loans andInterest PaymentsNew Perspectives on Microsoft Office Excel 2010 35
  • 36. XPXPXPWorking with Financial Functions• Cost of a loan to the borrower is largely basedon three factors:–Principal: amount of money being loaned–Interest: amount added to the principal bythe lender• Calculated as simple interest or ascompound interest–Time required to pay back the loanNew Perspectives on Microsoft Office Excel 2010 36
  • 37. XPXPXPUsing Functions to Manage PersonalFinancesNew Perspectives on Microsoft Office Excel 2010 37Function Use to determine…FV (future value) How much an investment will be worth after a series ofmonthly payments at some future timePMT (payment) How much you have to spend each month to repay aloan or mortgage within a set period of timeIPMT (interestpayment)How much of your monthly loan payment is used to paythe interestPPMT (principalpayment)How much of your monthly loan payment is used forrepaying the principalPV (present value) Largest loan or mortgage you can afford given a setmonthly paymentNPER (number ofperiods)How long it will take to pay off a loan with constantmonthly payments
  • 38. XPXPXPUsing the PMT FunctionNew Perspectives on Microsoft Office Excel 2010 38
  • 39. XPXPXPUsing the PMT FunctionNew Perspectives on Microsoft Office Excel 2010 39
  • 40. XPXPXPPresenting a Budget• Plan the budget around a few essential goals• Pick out a few important measures that canconvey whether the proposed budget willmeet your goals• Look at your financial history to aid you increating budget projections• When explaining the budget, describe theresults in terms of everyday examplesNew Perspectives on Microsoft Office Excel 2010 40