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…
What is the ISREF Function? The ISREF Function is categorized under Excel Information functions. The function will test if a given value is a reference or not. If the given value is a reference, it will return TRUE. Otherwise, it will return FALSE. In financial analysis, let’s assume we need to create 21 worksheets in a…
What is the INFO Function? The INFO Function is categorized under Excel Information functions. The function helps extract information about the current operating environment, including the Excel release version and operating system. Imagine a situation wherein you are working as a remote financial analyst and receive weekly data, in the form of Excel files, from…
What is the YEARFRAC Function? The YEARFRAC Function is categorized under Excel DATE/TIME functions. YEARFRAC will return the number of days between two dates as a year fraction, in decimal form, in Excel. In financial analysis, one can use the function to, for example, calculate a portion of annual revenues. Formula =YEARFRAC(start_date, end_date, [basis]) The…
