What is the RANK Function? The RANK Function is categorized as an Excel Statistical function. The function returns the statistical rank of a given value within a supplied array of values. Thus, it determines the position of a specific value in an array. Formula =RANK(number,ref,[order]) The RANK function uses the following arguments: Number (required argument)…
What is the NOT Function? The NOT Function is an Excel Logical function. The function helps check if one value is not equal to another. If we give TRUE, it will return FALSE and when given FALSE, it will return TRUE. So, basically, it will always return a reverse logical value. As a financial analyst,…
What is the ISODD Function? The ISODD Function is categorized under Excel Information functions. ISODD returns TRUE if the number is odd or FALSE if the number is even. It is a reference function that helps to indicate if a given number is odd or not. While doing financial analysis, we need to deal with…
What is the AVERAGEIF Function? The AVERAGEIF Function is an Excel Statistical function, which calculates the average of a given range of cells by a specific criterion. Basically, AVERAGEIF calculates the central tendency, which is the location of the center of a group of numbers in a statistical distribution. The function was introduced in Excel…
What is the TIMEVALUE Function? The TIMEVALUE Function is categorized under Excel DATE/TIME functions. TIMEVALUE helps us convert a text representation of a time to MS Excel time. In MS Excel, time is stored internally as a numerical value. It doesn’t recognize time in text form. Hence, the TIMEVALUE function allows us to convert the…
What is the TIME Function? The TIME Functionis categorized under Excel DATE/TIME functions. TIME helps us to create a time with individual hour, minute, and second components. While doing financial analysis, we might wish to put a time stamp on a report. In such scenarios, TIME can be used to convert a text string into…
What is the CUMPRINC Function? The CUMPRINC Function is an Excel Financial function. The function helps calculate the cumulative principal amount paid on a loan or the cumulative amount accrued by an investment. The CUMPRINC function assumes a fixed interest rate and payment schedule. Most of the time, CUMPRINC and CUMIPNT are used together. …
What is the CUMIPMT Function? The CUMIPMT Function is an Excel Financial function. CUMIPMT helps in calculating the cumulative interest paid on a loan over the life of the loan. This function can be helpful in financial modeling and analysis, when the ability to separate the interest component from the principal component of a loan…
What is the IPMT Function? The IPMT Function is categorized under Excel Financial functions. The function calculates the interest portion based on a given loan payment and payment period. We can calculate, using IPMT, the interest amount of a payment for the first period, last period, or any period in between. As a financial analyst,…
What is the IFERROR Function? IFERROR is a function found under the Excel Logical Functions category. IFERROR belongs to a group of error-checking functions such as ISERR, ISERROR, IFERROR, and ISNA. The function will return a customized output – usually set to a string of text – whenever the evaluation of the formula is an…
