Excel 2010 Chapter 4
Answer Key for Matching and Multiple Choice
Matching
C Financial functions 1. Predefined formulas that perform common business calculations,
and which typically involve a period of time such as months or years.
F Interest 2. The amount charged for the use of borrowed money.
L Rate 3. In the Excel PMT function, the term used to indicate the interest rate for a loan.
J Present value (Pv) 4. The total amount that a series of future payments is worth now.
K Principal 5. Another term for present value.
G Nper 6. The abbreviation for number of time periods in various Excel functions.
D Future value (Fv) 7. The value at the end of the time periods in an Excel function; the
cash balance you want to attain after the last payment is made—usually zero for loans.
A Arguments 8. The values that an Excel function uses to perform calculations or
operations.
I PMT function 9. An Excel function that calculates the payment for a loan based on
constant payments and at a constant interest rate.
N Type argument10. An optional argument in the PMT function that assumes that the
payment will be made at the end of each time period.
O What-if analysis 11. The process of changing the values in cells to see how those
changes affect the outcome of formulas in the worksheet.
E Goal Seek 12. One of Excel’s What-If Analysis tools that provides a method to find a
specific value for a cell by adjusting the value of one other cell—you can find the right
input when you know the result you want.
B Data table 13. A range of cells that shows how changing certain values in your
formulas affects the results of those formulas, and which makes it easy to calculate
multiple versions in one operation.
H One-variable data table 14. A data table that changes the value in only one cell.
M Two-variable data table 15. A data table that changes the values in two cells.
Multiple Choice
1. Loans are typically made for a period of: C. years
2. The future value at the end of a loan is typically: A. zero
3. A word or string of characters that represents a cell, a range of cells, a formula, or a
constant value is a defined: B. name
4. In the Cell Styles gallery, the Currency [0] style and the Comma [0] style format the
selected cell with how many decimal places? A. 0
5. When you use a defined name in a formula, the result is the same as if you typed a: B.
cell reference
6. A group of Excel functions that look up a value in a defined range of cells located in
another part of the workbook to find a corresponding value is referred to as: B. lookup
functions
7. An Excel function that looks up values that are displayed vertically in a column is the:
A. VLOOKUP function
8. A defined range of cells, arranged in a column or a row, used in a VLOOKUP or
HLOOKUP function, is called a table: C. array
9. When creating a VLOOKUP or an HLOOKUP function, the one requirement is that
the data in the table array is sorted in: A. Ascending order
10. A list of values that are acceptable for a group of cells is a: C. validation list