MS Excel 2007 Advanced

8/3/2019 MS Excel 2007 Advanced

1/107

Microsoft Excel 2007

Advanced


2/107

Participant Kit - Microsoft Excel 2007 Advanced

2

Microsoft Excel 2007 Advanced

Version 1.2; April, 2011


3/107


3

Contents

EXCEL 2007

FUNCTIONS ...................................................................................................... 5Getting help with using a particular function. .......................................................................................... 5TODAY function ............................................................................................................................................. 5DAY function .................................................................................................................................................. 7MONTH function ............................................................................................................................................ 8YEAR function ............................................................................................................................................... 9SUMIF function .............................................................................................................................................. 9ROUND function .......................................................................................................................................... 12COUNT function ........................................................................................................................................... 13COUNTA function ........................................................................................................................................ 15COUNTIF function ........................................................................................................................................ 16PROPER function ........................................................................................................................................ 18UPPER function ........................................................................................................................................... 19LOWER function .......................................................................................................................................... 20CONCATENATE function ............................................................................................................................. 20FV function ................................................................................................................................................... 22NPV function ................................................................................................................................................ 25PMT function ............................................................................................................................................... 27PV function .................................................................................................................................................. 29RATE function .............................................................................................................................................. 32HLOOKUP function ..................................................................................................................................... 33VLOOKUP function ...................................................................................................................................... 35IF function .................................................................................................................................................... 42AND function ............................................................................................................................................... 45OR function .................................................................................................................................................. 47ISERROR ...................................................................................................................................................... 48DSUM function ............................................................................................................................................ 51DMIN function ............................................................................................................................................. 59DMAX function ............................................................................................................................................ 68

Using nested functions ..............................................................................................................85Nesting IF() Functions ................................................................................................................................ 85

USING ONE-INPUT OR TWO-INPUT DATA TABLES / WHAT-IF TABLES ..............................86One input Data Table command .............................................................................................................. 86Two input data table command ............................................................................................................... 87

EXCEL 2007 - A FIRST LOOK AT PIVOT TABLES ..................................................................89Quick start: Create a PivotTable report ................................................................................................... 89Modifying data and refreshing the Pivot Table ...................................................................................... 92grouping data within a Pivot table ........................................................................................................... 93

Pivot table chart ........................................................................................................................94What is a PivotChart report....................................................................................................................... 94

Working with the source data of a PivotTable or PivotChart report ............................................97Creating a PivotTable or PivotChart from worksheet data .................................................................. 97Using an external data source to create a PivotTable or PivotChart .................................................. 97Using another PivotTable report as the data source ............................................................................ 98Changing the source data of an existing PivotTable report ................................................................. 98

EXCEL 2007 ANALYSIS ........................................................................................................99


4/107


4

Creating named Scenarios from defined cell ranges ........................................................................... 99When to use scenarios .............................................................................................................................. 99What-if scenarios are helpful for data analyses. ................................................................................ 99Create scenarios ....................................................................................................................................... 100Summarize scenarios .............................................................................................................................. 100

Working with Goal seek .......................................................................................................... 101EXCEL 2007 - AUDITING ....................................................................................................... 102

Tracing precedent cells ............................................................................................................................ 102Tracing dependants of a cell .................................................................................................................. 102Displaying all formulas within a worksheet ......................................................................................... 102

Using comments ..................................................................................................................... 104Inserting comments ................................................................................................................................. 104Deleting Comments ................................................................................................................................. 104Navigating Comments ............................................................................................................................. 104Show/Hide Comments ............................................................................................................................ 104

EXCEL 2007 - MACROS ........................................................................................................ 105Displaying the Developer tab .................................................................................................................. 105Recording and running a macro ............................................................................................................ 105Lowering your macro security level ....................................................................................................... 106

Customizing the Quick Access Toolbar ................................................................................... 107Adding Command button ........................................................................................................................ 107Removing Command Button .................................................................................................................. 107Resetting Quick Access Toolbar ............................................................................................................. 107Changing the Quick Toolbar Macro icon ............................................................................................... 107Removing a macro icon from the quick access toolbar ..................................................................... 107Raising your macro security level .......................................................................................................... 107


5/107


5

EXCEL 2007 FUNCTIONSGetting help with using a particular function.1. Using Help:

Press F1 Type List of functions Select list of functions alphabetically Select the

desired function

2. Typing the function in a cell:

MS Excel has the feature of contextual help, simply type = and function name in a cell and just

click on it.

Figure 1TODAY functionReturns the serial number of the current date. The serial number is the date-time code used by

Excel for date and time calculations. If the cell format was General before the function wasentered, Excel changes the cell format to Date. If you want to view the serial number, you mustchange the cell format to General or Number.


6/107


6

The TODAY function is useful when you need to have the current date displayed on a worksheet,regardless of when you open the workbook. It is also useful for calculating intervals. For

example, if you know that someone was born in 1963, you might use the following formula to

find that person's age as of this year's birthday:

=YEAR(TODAY())-1963This formula uses the TODAY function as an argument for the YEAR function to obtain thecurrent year, and then subtracts 1963, returning the person's age.

Note If the TODAY function does not update the date when you expect it to, you might need tochange the settings that control when the workbook or worksheet recalculates. On the File tab,click Options, and then in the Formulas category under Calculation options, make sure thatAutomatic is selected.Syntax=TODAY()

The TODAY function syntax has no arguments.

Note: Excel stores dates as sequential serial numbers so they can be used in calculations. Bydefault, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448

because it is 39,447 days after January 1, 1900. Microsoft Excel for the Macintosh uses a

different date system as its default.

Example

12

3

4

A BFormula Description=TODAY() Returns the current date.

=TODAY()+5 Returns the current date plus 5 days. For

example, if the current date is 1/1/2008, thisformula returns 1/6/2008.

=DATEVALUE("1/1/2030")-

TODAY()

Returns the number of days between the

current date and 1/1/2030. Note that cell A4

must be formatted as General or Number for


7/107


7

5

6

the result to display correctly.

=DAY(TODAY()) Returns the current day of the month (1 - 31).

=MONTH(TODAY()) Returns the current month of the year (1 - 12).

For example, if the current month is May, this

formula returns 5.

DAY functionReturns the day of a date, represented by a serial number. The day is given as an integer ranging

from 1 to 31.

SyntaxDAY(serial_number)The DAY function syntax has the following arguments:

Serial_number Required. The date of the day you are trying to find. Dates should beentered by using the DATE function, or as results of other formulas or functions. For

example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates

are entered as text.

RemarksMicrosoft Excel stores dates as sequential serial numbers so they can be used in calculations. By

default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448

because it is 39,448 days after January 1, 1900. Microsoft Excel for the Macintosh uses a

different date system as its default.

Values returned by the YEAR, MONTH and DAY functions will be Gregorian values regardless of

the display format for the supplied date value. For example, if the display format of the supplied

date is Hijri, the returned values for the YEAR, MONTH and DAY functions will be values

associated with the equivalent Gregorian date.


8/107


8

Example

1234

A B

Date15-Apr-2008

Formula Description (Result)=DAY(A2) Day of the date above (15)

MONTH functionReturns the month of a date represented by a serial number. The month is given as an integer,ranging from 1 (January) to 12 (December).

SyntaxMONTH (serial_number)The MONTH function syntax has the following arguments:

Serial_number Required. The date of the month you are trying to find. Dates should beentered by using the DATE function, or as results of other formulas or functions. For

example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if datesare entered as text.

Example

1234

A BDate15-Apr-2008

Formula Description (Result)=MONTH(A2) Month of the date above (4)


9/107


9

YEAR functionReturns the year corresponding to a date. The year is returned as an integer in the range 1900-

9999.

SyntaxYEAR(serial_number)The YEAR function syntax has the following arguments:

Serial_number Required. The date of the year you want to find. Dates should be entered byusing the DATE function, or as results of other formulas or functions. For example, use

DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered

as text.

Example

123456

A BDate7/5/2008

7/5/10

Formula Description (Result)=YEAR(A2) Year of the first date (2008)=YEAR(A3) Year of the second date (2010)

SUMIF functionYou use the SUMIF function to sum the values in a range that meet criteria that you specify. Forexample, suppose that in a column that contains numbers, you want to sum only the values that

are larger than 5. You can use the following formula:

=SUMIF(B2:B25,">5")In this example, the criteria is applied the same values that are being summed. If you want, you

can apply the criteria to one range and sum the corresponding values in a different range. For

example, the formula =SUMIF(B2:B5, "John", C2:C5) sums only the values in the range C2:C5,where the corresponding cells in the range B2:B5 equal "John."

Note: To sum cells based on multiple criteria, see SUMIFS function.


10/107


10

SyntaxSUMIF(range, criteria, [sum_range])The SUMIF function syntax has the following arguments:

range Required. The range of cells that you want evaluated by criteria. Cells in each rangemust be numbers or names, arrays, or references that contain numbers. Blank and text

values are ignored.

criteria Required. The criteria in the form of a number, expression, a cell reference, text, ora function that defines which cells will be added. For example, criteria can be expressed as

32, ">32", B5, 32, "32", "apples", or TODAY().

Important Any text criteria or any criteria that includes logical or mathematical symbols must

be enclosed in double quotation marks ("). If the criteria is numeric, double quotation marks arenot required.

sum_range Optional. The actual cells to add, if you want to add cells other than thosespecified in the range argument. If the sum_range argument is omitted, Excel adds the cellsthat are specified in the range argument (the same cells to which the criteria is applied).

NotesThe sum_range argument does not have to be the same size and shape as the rangeargument. The actual cells that are added are determined by using theupper leftmost cell in

the sum_range argument as the beginning cell, and then including cells that correspond insize and shape to the range argument. For example:

If range is And sum_range is Then the actual cells areA1:A5 B1:B5 B1:B5

A1:A5 B1:B3 B1:B5

A1:B4 C1:D4 C1:D4

A1:B4 C1:C2 C1:D4

You can use the wildcard characters the question mark (?) and asterisk (*) as thecriteria argument. A question mark matches any single character; an asterisk matches anysequence of characters. If you want to find an actual question mark or asterisk, type a tilde(~) preceding the character.


11/107


11

Example 1

123456

78

9

10

A B CProperty Value Commission Data100,000 7,000 250,000

200,000 14,000

300,000 21,000

400,000 28,000

Formula Description Result=SUMIF(A2:A5,">160000",B2:B5) Sum of the commissions

for property values over160,000.

63,000

=SUMIF(A2:A5,">160000") Sum of the property values

over 160,000.

900,000

=SUMIF(A2:A5,300000,B2:B5) Sum of the commissions

for property values equal to

300,000.

21,000

=SUMIF(A2:A5,">" & C2,B2:B5) Sum of the commissions

for property values greater

than the value in C2.

49,000

Example 2

12345678

A B CCategory Food SalesVegetables Tomatoes 2300

Vegetables Celery 5500

Fruits Oranges 800

Butter 400

Vegetables Carrots 4200

Fruits Apples 1200

Formula Description Result=SUMIF(A2:A7,"Fruits",C2:C7) Sum of the sales of all 2000


12/107


12

9

10

11

12

foods in the "Fruits"

category.

=SUMIF(A2:A7,"Vegetables",C2:C7) Sum of the sales of all

foods in the "Vegetables"

category.

12000

=SUMIF(B2:B7,"*es",C2:C7) Sum of the sales of all

foods that end in "es"

(Tomatoes, Oranges, and

Apples).

4300

=SUMIF(A2:A7,"",C2:C7) Sum of the sales of all

foods that do not have a

category specified.

400

ROUND functionThe ROUND function rounds a number to a specified number of digits. For example, if cell A1contains 23.7825, and you want to round that value to two decimal places, you can use the

following formula:

=ROUND(A1, 2)The result of this function is 23.78.

SyntaxROUND(number, num_digits)The ROUND function syntax has the following arguments:

number Required. The number that you want to round.num_digits Required. The number of digits to which you want to round the numberargument.

RemarksIf num_digits is greater than 0 (zero), then number is rounded to the specified number ofdecimal places.

If num_digits is 0, the number is rounded to the nearest integer.If num_digits is less than 0, the number is rounded to the left of the decimal point.To always round up (away from zero), use the ROUNDUP function.


13/107


13

To always round down (toward zero), use the ROUNDDOWN function.To round a number to a specific multiple (for example, to round to the nearest 0.5), use the

MROUND function.Example

1

2

34

5

A B CFormula Description Result=ROUND(2.15, 1) Rounds 2.15 to one decimal place 2.2

=ROUND(2.149,

1)

Rounds 2.149 to one decimal place 2.1

=ROUND(-1.475,

2)

Rounds -1.475 to two decimal places -1.48

=ROUND(21.5, -1) Rounds 21.5 to one decimal place to the left

of the decimal point

20

COUNT functionThe COUNT function counts the number of cells that contain numbers, and counts numberswithin the list of arguments. Use the COUNT function to get the number of entries in a numberfield that is in a range or array of numbers. For example, you can enter the following formula to

count the numbers in the range A1:A20:

=COUNT(A1:A20)In this example, if five of the cells in the range contain numbers, the result is 5.SyntaxCOUNT(value1, [value2], ...)The COUNT function syntax has the following arguments:

value1 Required. The first item, cell reference, or range within which you want to countnumbers.

value2, ... Optional. Up to 255 additional items, cell references, or ranges within which youwant to count numbers.


14/107


14

Note: The arguments can contain or refer to a variety of different types of data, but onlynumbers are counted.

Remarks

Arguments that are numbers, dates, or a text representation of numbers (for example, anumber enclosed in quotation marks, such as "1") are counted.

Logical values and text representations of numbers that you type directly into the list of

arguments are counted.

Arguments that are error values or text that cannot be translated into numbers are not

counted.

If an argument is an array or reference, only numbers in that array or reference are

counted. Empty cells, logical values, text, or error values in the array or reference are not

counted.

If you want to count logical values, text, or error values, use the COUNTA function.If you want to count only numbers that meet certain criteria, use the COUNTIF function orthe COUNTIFS function.

Example

12345678910

11

A B CDataSales

12/8/2008

19

22.24

TRUE

#DIV/0!

Formula Description Result=COUNT(A2:A8) Counts the number of cells that contain

numbers in cells A2 through A8.

3

=COUNT(A5:A8) Counts the number of cells that contain

numbers in cells A5 through A8.

2

=COUNT(A2:A8,2) Counts the number of cells that contain 4


15/107


15

12 numbers in cells A2 through A8, and thevalue 2

COUNTA functionThe COUNTA function counts the number of cells that are not empty in a range.SyntaxCOUNTA(value1, [value2], ...)The COUNTA function syntax has the following arguments:

value1 Required. The first argument representing the values that you want to count.value2, ... Optional. Additional arguments representing the values that you want to count,up to a maximum of 255 arguments.

RemarksThe COUNTA function counts cells containing any type of information, including error valuesand empty text (""). For example, if the range contains a formula that returns an emptystring, the COUNTA function counts that value. The COUNTA function does not count emptycells.

If you do not need to count logical values, text, or error values (in other words, if you want to

count only cells that contain numbers), use the COUNT function.If you want to count only cells that meet certain criteria, use the COUNTIF function or theCOUNTIFS function.

Example

12345

A B CDataSales

12/8/2008

19


16/107


16

678910

22.24

TRUE

#DIV/0!

Formula Description Result=COUNTA(A2:A8) Counts the number of nonblank cells in cells

A2 through A8.

6

COUNTIF functionThe COUNTIF function counts the number of cells within a range that meet a single criterion thatyou specify. For example, you can count all the cells that start with a certain letter, or you can

count all the cells that contain a number that is larger or smaller than a number you specify. For

example, suppose you have a worksheet that contains a list of tasks in column A, and the first

name of the person assigned to each task in column B. You can use the COUNTIF function tocount how many times a person's name appears in column B and, in that way, determine howmany tasks are assigned to that person. For example:

=COUNTIF(B2:B25,"Nancy")Note: To count cells based on multiple criteria, see COUNTIFS function.SyntaxCOUNTIF(range, criteria)The COUNTIF function syntax has the following arguments:

range Required. One or more cells to count, including numbers or names, arrays, orreferences that contain numbers. Blank and text values are ignored.

criteria Required. A number, expression, cell reference, or text string that defines whichcells will be counted. For example, criteria can be expressed as 32, ">32", B4, "apples", or

"32".

NotesYou can use the wildcard characters the question mark (?) and the asterisk (*) incriteria. A question mark matches any single character, and an asterisk matches any

sequence of characters. If you want to find an actual question mark or asterisk, type a tilde

(~) before the character.Criteria are case insensitive; for example, the string "apples" and the string "APPLES" will

match the same cells.

Example


17/107


17

Example 1:Common COUNTIF formulas

123456

7

8

9

10

11

12

A B CData Dataapples 32

oranges 54

peaches 75

apples 86

Formula Description Result=COUNTIF(A2:A5,"apples") Number of cells with

apples in cells A2

through A5.

2

=COUNTIF(A2:A5,A4) Number of cells with

peaches in cells A2

through A5.

1

=COUNTIF(A2:A5,A3)+COUNTIF(A2:A5,A2) Number of cells with

oranges and apples

in cells A2 through

A5.

3

=COUNTIF(B2:B5,">55") Number of cells with

a value greater than

55 in cells B2

through B5.

2

=COUNTIF(B2:B5,""&B4) Number of cells with

a value not equal to

75 in cells B2

through B5.

3

=COUNTIF(B2:B5,">=32")-

COUNTIF(B2:B5,">85")

Number of cells with

a value greater than

or equal to 32 and

less than or equal to

85 in cells B2

through B5.

3

Example 2: COUNTIF formulas using wildcard characters and handling blank values


18/107


18

12345678

9

10

11

12

13

14

A B CData Dataapples Yes

oranges NO

peaches No

apples yes

Formula Description Result=COUNTIF(A2:A7,"*es") Number of cells

ending with the letters

"es" in cells A2through A7.

4

=COUNTIF(A2:A7,"?????es") Number of cells

ending with the letters

"les" and having

exactly 7 letters in

cells A2 through A7.

2

=COUNTIF(A2:A7,"*") Number of cells

containing any text in

cells A2 through A7.

4

=COUNTIF(A2:A7,""&"*") Number of cells not

containing text in cells

A2 through A7.

2

=COUNTIF(B2:B7,"No") /

ROWS(B2:B7)

The average number

of No votes (including

blank cells) in cells B2

through B7.

0.333333333

=COUNTIF(B2:B7,"Yes") /

(ROWS(B2:B7) -COUNTIF(B2:B7,

""&"*"))

The average number

of Yes votes

(excluding blank cells)

in cells B2 through

B7.

0.5

PROPER functionCapitalizes the first letter in a text string and any other letters in text that follow any character

other than a letter.Converts all other letters to lowercase letters.


19/107


19

SyntaxPROPER(text)The PROPER function syntax has the following arguments:

Text Required. Text enclosed in quotation marks, a formula that returns text, or a referenceto a cell containing the text you want to partially capitalize.

Example

12345678

A BDatathis is a TITLE

2-cent's worth

76BudGet

Formula Description (Result)=PROPER(A2) Proper case of first string (This Is A Title)

=PROPER(A3) Proper case of second string (2-Cent'S Worth)

=PROPER(A4) Proper case of third string (76Budget)

UPPER functionConverts text to uppercase.

SyntaxUPPER(text)The UPPER function syntax has the following arguments:

Text Required. The text you want converted to uppercase. Text can be a reference or textstring.

Example

12

A BDatatotal


20/107


20

3456

Yield

Formula Description (Result)=UPPER(A2) Upper case of first string (TOTAL)

=UPPER(A3) Upper case of second string (YIELD)

LOWER functionConverts all uppercase letters in a text string to lowercase.

SyntaxLOWER(text)The LOWER function syntax has the following arguments:

Text Required. The text you want to convert to lowercase. LOWER does not changecharacters in text that are not letters.

Example

123456

A BDataE. E. Cummings

Apt. 2B

Formula Description (Result)=LOWER(A2) Lower case of first string (e. e. cummings)

=LOWER(A3) Lower case of last string (apt. 2b)

CONCATENATE functionThe CONCATENATE function joins up to 255 text strings into one text string. The joined items canbe text, numbers, cell references, or a combination of those items. For example, if your

worksheet contains a person's first name in cell A1 and the person's last name in cell B1, you

can combine the two values in another cell by using the following formula:

=CONCATENATE(A1," ",B1)The second argument in this example (" ") is a space character. You must specify any spaces orpunctuation that you want to appear in the results as an argument that is enclosed in quotation

marks.


21/107


21

SyntaxCONCATENATE(text1, [text2], ...)The CONCATENATE function syntax has the following arguments:

Text1 Required. The first text item to be concatenated.Text2, ... Optional. Additional text items, up to a maximum of 255 items. The items mustbe separated by commas.

Note You can also use the ampersand (&) calculation operator instead of the CONCATENATEfunction to join text items. For example,

=A1 & B1

returns the same value as

=CONCATENATE(A1, B1)

Example

12345

6

7

A B CDatabrook trout Andreas Hauserspecies Fourth Pine

32

Formula Description Result=CONCATENATE("Stream

population for ", A2, " ", A3, "

is ", A4, "/mile")

Creates a sentence by

concatenating the data in

column A with other text.

Stream

population for

brook trout

species is

32/mile

=CONCATENATE(B2, " ", C2) Concatenates the string incell B2, a space character,

and the value in cell C2.

AndreasHauser

=CONCATENATE(C2, ", ", B2) Concatenates the string in

cell C2, a string consisting

of a comma and a space

Hauser,

Andreas


22/107


22

8

9

character, and the value in

cell B2.

=CONCATENATE(B3, " & ",

C3)

Concatenates the string in

cell B3, a string consisting

of a space, an ampersand,another space, and the

value in cell C3.

Fourth & Pine

=B3 & " & " & C3 Concatenates the same

items as the previous

example, but by using the

ampersand (&) calculationoperator instead of the

CONCATENATE function.

Fourth & Pine

FV functionReturns the future value of an investment based on periodic, constant payments and a constant

interest rate.

SyntaxFV(rate,nper,pmt,[pv],[type])For a more complete description of the arguments in FV and for more information on annuity

functions, see PV.

The FV function syntax has the following arguments:

Rate Required. The interest rate per period.Nper Required. The total number of payment periods in an annuity.Pmt Required. The payment made each period; it cannot change over the life of theannuity. Typically, pmt contains principal and interest but no other fees or taxes. If pmt is

omitted, you must include the pv argument.

Pv Optional. The present value, or the lump-sum amount that a series of future payments isworth right now. If pv is omitted, it is assumed to be 0 (zero), and you must include the pmt

argument.

Type Optional. The number 0 or 1 and indicates when payments are due. If type is omitted,it is assumed to be 0.

Set type equal to If payments are due


23/107


23

0 At the end of the period

1 At the beginning of the period

RemarksMake sure that you are consistent about the units you use for specifying rate and nper. If

you make monthly payments on a four-year loan at 12 percent annual interest, use

12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use

12% for rate and 4 for nper.

For all the arguments, cash you pay out, such as deposits to savings, is represented by

negative numbers; cash you receive, such as dividend checks, is represented by positive

numbers.

ExamplesExample 1

12345

67

8

A BData Description6% Annual interest rate

10 Number of payments

-200 Amount of the payment

-500 Present value

1 Payment is due at the beginning of the period (see

above)

Formula Description (Result)=FV(A2/12, A3, A4, A5,

A6)

Future value of an investment with the above terms

(2581.40)

Note: The annual interest rate is divided by 12 because it is compounded monthly.Example 2

12



24/107


24

345

6



Formula Description (Result)=FV(A2/12, A3,A4)

Future value of an investment with the above terms(12,682.50)


1234

56

7




1 Payment is due at the beginning of the year (see

above)

Formula Description (Result)=FV(A2/12, A3, A4,,

A5)


(82,846.25)


12345

67

8




-1000 Present value

1 Payment is due at the beginning of the year (see

above)

Formula Description (Result)=FV(A2/12, A3, A4, A5,

A6)


(2301.40)

Note: The annual interest rate is divided by 12 because it is compounded monthly.


25/107


25

NPV functionCalculates the net present value of an investment by using a discount rate and a series of future

payments (negative values) and income (positive values).

SyntaxNPV(rate,value1,[value2],...)The NPV function syntax has the following arguments:

Rate Required. The rate of discount over the length of one period.Value1, value2, ... Value1 is required, subsequent values are optional. 1 to 254 argumentsrepresenting the payments and income.

Value1, value2, ... must be equally spaced in time and occur at the end of each

period.

NPV uses the order of value1, value2, ... to interpret the order of cash flows. Be sure

to enter your payment and income values in the correct sequence.

Arguments that are empty cells, logical values, or text representations of numbers,

error values, or text that cannot be translated into numbers are ignored.

If an argument is an array or reference, only numbers in that array or reference are

counted. Empty cells, logical values, text, or error values in the array or reference

are ignored.

RemarksThe NPV investment begins one period before the date of the value1 cash flow and ends

with the last cash flow in the list. The NPV calculation is based on future cash flows. If your

first cash flow occurs at the beginning of the first period, the first value must be added to

the NPV result, not included in the values arguments. For more information, see the

examples below.

If n is the number of cash flows in the list of values, the formula for NPV is:

NPV is similar to the PV function (present value). The primary difference between PV and

NPV is that PV allows cash flows to begin either at the end or at the beginning of the period.


26/107


26

Unlike the variable NPV cash flow values, PV cash flows must be constant throughout the

investment. For information about annuities and financial functions, see PV.

NPV is also related to the IRR function (internal rate of return). IRR is the rate for which NPV

equals zero: NPV(IRR(...), ...) = 0.

Example 1

12345678

A BData Description10% Annual discount rate

-10,000 Initial cost of investment one year from today

3,000 Return from first year

4,200 Return from second year

6,800 Return from third year

Formula Description (Result)=NPV(A2, A3, A4, A5, A6) Net present value of this investment (1,188.44)

In the preceding example, you include the initial $10,000 cost as one of the values, because the

payment occurs at the end of the first period.

Example 2

1

23456789

10

A BData Description8% Annual discount rate. This might represent the rate of

inflation or the interest rate of a competing investment.

-40,000 Initial cost of investment

8,000 Return from first year

9,200 Return from second year

10,000 Return from third year

12,000 Return from fourth year

14,500 Return from fifth year

Formula Description (Result)=NPV(A2,

A4:A8)+A3

Net present value of this investment (1,922.06)


27/107


27

11=NPV(A2, A4:A8, -

9000)+A3

Net present value of this investment, with a loss in the

sixth year of 9000 (-3,749.47)

In the preceding example, you don't include the initial $40,000 cost as one of the values,

because the payment occurs at the beginning of the first period.

PMT functionCalculates the payment for a loan based on constant payments and a constant interest rate.

SyntaxPMT(rate, nper, pv, [fv], [type])Note For a more complete description of the arguments in PMT, see the PV function.The PMT function syntax has the following arguments:

Rate Required. The interest rate for the loan.Nper Required. The total number of payments for the loan.Pv Required. The present value, or the total amount that a series of future payments isworth now; also known as the principal.

Fv Optional. The future value, or a cash balance you want to attain after the last payment ismade. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.

Type Optional. The number 0 (zero) or 1 and indicates when payments are due.Set type equal to If payments are due0 or omitted At the end of the period


RemarksThe payment returned by PMT includes principal and interest but no taxes, reserve

payments, or fees sometimes associated with loans.

Make sure that you are consistent about the units you use for specifying rate and nper. If

you make monthly payments on a four-year loan at an annual interest rate of 12 percent,

use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan,

use 12 percent for rate and 4 for nper.


28/107


29/107


29

Example 1

12345

6

7


10 Number of months of payments

10000 Amount of loan

Formula Description (Result)=PMT(A2/12, A3,

A4)

Monthly payment for a loan with the above terms (-

1,037.03)

=PMT(A2/12, A3,A4, 0, 1)

Monthly payment for a loan with the above terms, exceptpayments are due at the beginning of the period (-

1,030.16)

Example 2You can use PMT to determine payments to annuities other than loans.

12345

6


18 Years you plan on saving

50,000 Amount you want to have save in 18 years

Formula Description (Result)=PMT(A2/12, A3*12,

0, A4)

Amount to save each month to have 50,000 at the

end of 18 years (-129.08)

Note The interest rate is divided by 12 to get a monthly rate. The number of years the moneyis paid out is multiplied by 12 to get the number of payments.

PV functionDescriptionReturns the present value of an investment. The present value is the total amount that a series

of future payments is worth now. For example, when you borrow money, the loan amount is the

present value to the lender.

Syntax


30/107


30

PV(rate, nper, pmt, [fv], [type])The PV function syntax has the following arguments:

Rate Required. The interest rate per period. For example, if you obtain an automobile loanat a 10 percent annual interest rate and make monthly payments, your interest rate permonth is 10%/12, or 0.83%. You would enter 10%/12, or 0.83%, or 0.0083, into the

formula as the rate.

Nper Required. The total number of payment periods in an annuity. For example, if you geta four-year car loan and make monthly payments, your loan has 4*12 (or 48) periods. You

would enter 48 into the formula for nper.

Pmt Required. The payment made each period and cannot change over the life of theannuity. Typically, pmt includes principal and interest but no other fees or taxes. For

example, the monthly payments on a $10,000, four-year car loan at 12 percent are

$263.33. You would enter -263.33 into the formula as the pmt. If pmt is omitted, you mustinclude the fv argument.

Fv Optional. The future value, or a cash balance you want to attain after the last payment ismade. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).

For example, if you want to save $50,000 to pay for a special project in 18 years, then

$50,000 is the future value. You could then make a conservative guess at an interest rate

and determine how much you must save each month. If fv is omitted, you must include the

pmt argument.

Type Optional. The number 0 or 1 and indicates when payments are due.Set type equal to If payments are due0 or omitted At the end of the period


RemarksMake sure that you are consistent about the units you use for specifying rate and nper. If

you make monthly payments on a four-year loan at 12 percent annual interest, use

12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use

12% for rate and 4 for nper.

The following functions apply to annuities:

CUMIPMT PPMT

CUMPRINC PV

FV RATE


31/107


31

FVSCHEDULE XIRR

IPMT XNPV

PMT

An annuity is a series of constant cash payments made over a continuous period. For

example, a car loan or a mortgage is an annuity. For more information, see the description

for each annuity function.

In annuity functions, cash you pay out, such as a deposit to savings, is represented by a

negative number; cash you receive, such as a dividend check, is represented by a positive

number. For example, a $1,000 deposit to the bank would be represented by the argument

-1000 if you are the depositor and by the argument 1000 if you are the bank.

Microsoft Excel solves for one financial argument in terms of the others. If rate is not 0,

then:

If rate is 0, then:

(pmt * nper) + pv + fv = 0

Example

1

2345

6

A BData Description500 Money paid out of an insurance

annuity at the end of every month

8% Interest rate earned on the money

paid out

20 Years the money will be paid out

Formula Description (Result)=PV(A3/12, 12*A4, A2, ,

0)

Present value of an annuity with the

terms above (-59,777.15).

The result is negative because it represents money that you would pay, an outgoing cash flow. If

you are asked to pay (60,000) for the annuity, you would determine this would not be a good


32/107


32

investment because the present value of the annuity (59,777.15) is less than what you are

asked to pay.

Note The interest rate is divided by 12 to get a monthly rate. The years the money is paid outis multiplied by 12 to get the number of payments.

RATE functionDescriptionReturns the interest rate per period of an annuity. RATE is calculated by iteration and can have

zero or more solutions. If the successive results of RATE do not converge to within 0.0000001

after 20 iterations, RATE returns the #NUM! error value.

SyntaxRATE(nper, pmt, pv, [fv], [type], [guess])Note For a complete description of the arguments nper, pmt, pv, fv, and type, see PV.The RATE function syntax has the following arguments:

Nper Required. The total number of payment periods in an annuity.Pmt Required. The payment made each period and cannot change over the life of theannuity. Typically, pmt includes principal and interest but no other fees or taxes. If pmt is

omitted, you must include the fv argument.

Pv Required. The present value the total amount that a series of future payments isworth now.

Fv Optional. The future value, or a cash balance you want to attain after the last payment ismade. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).

Type Optional. The number 0 or 1 and indicates when payments are due.Set type equal to If payments are due0 or omitted At the end of the period


Guess Optional. Your guess for what the rate will be.If you omit guess, it is assumed to be 10 percent.

If RATE does not converge, try different values for guess. RATE usually converges if

guess is between 0 and 1.

Remarks


33/107


33

Make sure that you are consistent about the units you use for specifying guess and nper. If you

make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for

guess and 4*12 for nper. If you make annual payments on the same loan, use 12% for guess

and 4 for nper.

Example

12345

6

7

A BData Description4 Years of the loan

-200 Monthly payment

8000 Amount of the loan

Formula Description (Result)=RATE(A2*12, A3, A4) Monthly rate of the loan with the above terms (1%)

=RATE(A2*12, A3,

A4)*12

Annual rate of the loan with the above terms

(0.09241767 or 9.24%)

Note The number of years of the loan is multiplied by 12 to get the number of monthsHLOOKUP functionDescriptionSearches for a value in the top row of a table or an array of values, and then returns a value in

the same column from a row you specify in the table or array. Use HLOOKUP when your

comparison values are located in a row across the top of a table of data, and you want to look

down a specified number of rows. Use VLOOKUP when your comparison values are located in a

column to the left of the data you want to find.

The H in HLOOKUP stands for "Horizontal."

SyntaxHLOOKUP(lookup_value, table_array, row_index_num, [range_lookup])The HLOOKUP function syntax has the following arguments:

Lookup_value Required. The value to be found in the first row of the table. Lookup_valuecan be a value, a reference, or a text string.


34/107


34

Table_array Required. A table of information in which data is looked up. Use a reference toa range or a range name.

The values in the first row of table_array can be text, numbers, or logical values.

If range_lookup is TRUE, the values in the first row of table_array must be placed inascending order: ...-2, -1, 0, 1, 2,... , A-Z, FALSE, TRUE; otherwise, HLOOKUP may not

give the correct value. If range_lookup is FALSE, table_array does not need to be

sorted.

Uppercase and lowercase text are equivalent.

Sort the values in ascending order, left to right.

Row_index_num Required. The row number in table_array from which the matching valuewill be returned. A row_index_num of 1 returns the first row value in table_array, a

row_index_num of 2 returns the second row value in table_array, and so on. If

row_index_num is less than 1, HLOOKUP returns the #VALUE! error value; if row_index_num

is greater than the number of rows on table_array, HLOOKUP returns the #REF! error value.

Range_lookup Optional. A logical value that specifies whether you want HLOOKUP to findan exact match or an approximate match. If TRUE or omitted, an approximate match is

returned. In other words, if an exact match is not found, the next largest value that is less

than lookup_value is returned. If FALSE, HLOOKUP will find an exact match. If one is not

found, the error value #N/A is returned.

Remark

If HLOOKUP can't find lookup_value, and range_lookup is TRUE, it uses the largest value

that is less than lookup_value.

If lookup_value is smaller than the smallest value in the first row of table_array, HLOOKUP

returns the #N/A error value.

If range_lookup is FALSE and lookup_value is text, you can use the wildcard characters,

question mark (?) and asterisk (*), in lookup_value. A question mark matches any single

character; an asterisk matches any sequence of characters. If you want to find an actual

question mark or asterisk, type a tilde (~) before the character.

Example

12

A B CAxles Bearings Bolts4 4 9


35/107


35

345

6

7

8

9

10

5 7 10

6 8 11

Formula Description (Result)=HLOOKUP("Axles", A1:C4,

2, TRUE)

Looks up Axles in row 1, and returns

the value from row 2 that's in the

same column. (4)

=HLOOKUP("Bearings",

A1:C4, 3, FALSE)

Looks up Bearings in row 1, and

returns the value from row 3 that's

in the same column. (7)

=HLOOKUP("B", A1:C4, 3,

TRUE)

Looks up B in row 1, and returns the

value from row 3 that's in the same

column. Because B is not an exact

match, the next largest value that is

less than B is used: Axles. (5)

=HLOOKUP("Bolts", A1:C4,

4)

Looks up Bolts in row 1, and returns

the value from row 4 that's in the

same column. (11)

=HLOOKUP(3, {1, 2, 3, "a",

"b", "c", "d", "e", "f"}, 2,

TRUE)

Looks up 3 in the first row of the

array constant, and returns the value

from row 2 in same column. (c)

VLOOKUP functionDescriptionYou can use the VLOOKUP function to search the first column of a range of cells, and then returna value from any cell on the same row of the range. For example, suppose that you have a list of

employees contained in the range A2:C10. The employees' ID numbers are stored in the first

column of the range, as shown in the following illustration.


36/107


36

Figure 2If you know the employee's ID number, you can use the VLOOKUP function to return either thedepartment or the name of that employee. To obtain the name of employee number 38, you can

use the formula =VLOOKUP(38, A2:C10, 3, FALSE). This formula searches for the value 38 in thefirst column of the range A2:C10, and then returns the value that is contained in the third

column of the range and on the same row as the lookup value ("Axel Delgado").

The V in VLOOKUP stands for vertical. Use VLOOKUP instead of HLOOKUP when your comparisonvalues are located in a column to the left of the data that you want to find.

SyntaxVLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])The VLOOKUP function syntax has the following arguments:

lookup_value Required. The value to search in the first column of the table or range. Thelookup_value argument can be a value or a reference. If the value you supply for thelookup_value argument is smaller than the smallest value in the first column of thetable_array argument, VLOOKUP returns the #N/A error value.table_array Required. The range of cells that contains the data. You can use a reference toa range (for example, A2:D8), or a range name. The values in the first column of table_arrayare the values searched by lookup_value. These values can be text, numbers, or logicalvalues. Uppercase and lowercase text are equivalent.

col_index_num Required. The column number in the table_array argument from which thematching value must be returned. A col_index_num argument of 1 returns the value in thefirst column in table_array; a col_index_num of 2 returns the value in the second column intable_array, and so on.

If the col_index_num argument is:


37/107


37

Less than 1, VLOOKUP returns the #VALUE! error value.Greater than the number of columns in table_array, VLOOKUP returns the #REF!error value.

range_lookup Optional. A logical value that specifies whether you want VLOOKUP to find anexact match or an approximate match:

If range_lookup is either TRUE or is omitted, an exact or approximate match isreturned. If an exact match is not found, the next largest value that is less than

lookup_value is returned.Important Ifrange_lookup is either TRUE or is omitted, the values in the first column oftable_array must be placed in ascending sort order; otherwise, VLOOKUP might not return thecorrect value.

For more information, see Sort data in a range or table.

If range_lookup is FALSE, the values in the first column of table_array do not need to be sorted.If the range_lookup argument is FALSE, VLOOKUP will find only an exact match. Ifthere are two or more values in the first column of table_array that match thelookup_value, the first value found is used. If an exact match is not found, the errorvalue #N/A is returned.

RemarksWhen searching text values in the first column of table_array, ensure that the data in thefirst column of table_array does not contain leading spaces, trailing spaces, inconsistentuse of straight ( ' or " ) and curly ( or ) quotation marks, or nonprinting characters. In these

cases, VLOOKUP might return an incorrect or unexpected value.For more information, see CLEAN function and TRIM function.

When searching number or date values, ensure that the data in the first column of

table_array is not stored as text values. In this case, VLOOKUP might return an incorrect orunexpected value.

If range_lookup is FALSE and lookup_value is text, you can use the wildcard charactersthe question mark (?) and asterisk (*) in lookup_value. A question mark matches anysingle character; an asterisk matches any sequence of characters. If you want to find an

actual question mark or asterisk, type a tilde (~) preceding the character.


38/107


38

Example 1This example searches the Density column of an atmospheric properties table to find

corresponding values in the Viscosity and Temperature columns. (The values are for air at 0

degrees Celsius at sea level, or 1 atmosphere.)

1234567891011

12

13

14

A B CDensity Viscosity Temperature0.457 3.55 500

0.525 3.25 400

0.606 2.93 300

0.675 2.75 250

0.746 2.57 200

0.835 2.38 150

0.946 2.17 100

1.09 1.95 50

1.29 1.71 0

Formula Description Result=VLOOKUP(1,A2:C10,2) Using an approximate

match, searches for the

value 1 in column A,

finds the largest valueless than or equal to 1 in

column A which is

0.946, and then returns

the value from column B

in the same row.

2.17

=VLOOKUP(1,A2:C10,3,TRUE) Using an approximate


value 1 in column A,

finds the largest value

less than or equal to 1 incolumn A, which is

0.946, and then returns

the value from column C

in the same row.

100

=VLOOKUP(0.7,A2:C10,3,FALSE) Using an exact match,

searches for the value

#N/A


39/107


39

15

16

0.7 in column A.

Because there is no

exact match in columnA, an error is returned.

=VLOOKUP(0.1,A2:C10,2,TRUE) Using an approximate


value 0.1 in column A.

Because 0.1 is less than

the smallest value in

column A, an error is

returned.

#N/A

=VLOOKUP(2,A2:C10,2,TRUE) Using an approximate

match, searches for thevalue 2 in column A,

finds the largest value

less than or equal to 2 in

column A, which is 1.29,

and then returns the

value from column B in

the same row.

1.71

Example 2

This example searches the Item-ID column of a baby products table and matches values in theCost and Markup columns to calculate prices and test conditions.

1234567

A B C DItem-ID Item Cost MarkupST-340 Stroller $145.67 30%

BI-567 Bib $3.56 40%

DI-328 Diapers $21.45 35%

WI-989 Wipes $5.12 40%

AS-469 Aspirator $2.56 45%

Formula Description Result= VLOOKUP("DI-328",

A2:D6, 3, FALSE) * (1 +

VLOOKUP("DI-328",

Calculates the retail price of

diapers by adding the markup

percentage to the cost.

$28.96


40/107


40

8

9

10

11

A2:D6, 4, FALSE))

= (VLOOKUP("WI-989",

A2:D6, 3, FALSE) * (1 +

VLOOKUP("WI-989",

A2:D6, 4, FALSE))) * (1 -20%)

Calculates the sale price of wipes

by subtracting a specified discount

from the retail price.

$5.73

= IF(VLOOKUP(A2, A2:D6,

3, FALSE) >= 20, "Markup

is " & 100 * VLOOKUP(A2,

A2:D6, 4, FALSE) &"%",

"Cost is under $20.00")

If the cost of an item is greater

than or equal to $20.00, displays

the string "Markup is nn%";

otherwise, displays the string "Cost

is under $20.00".

Markup

is 30%

= IF(VLOOKUP(A3, A2:D6,

3, FALSE) >= 20, "Markup

is: " & 100 *

VLOOKUP(A3, A2:D6, 4,FALSE) &"%", "Cost is $" &

VLOOKUP(A3, A2:D6, 3,

FALSE))

If the cost of an item is greater

than or equal to $20.00, displays

the string Markup is nn%";

otherwise, displays the string "Costis $n.nn".

Cost is

$3.56

Example 3This example searches the ID column of an employee table and matches values in other

columns to calculate ages and test for error conditions.

1

2

3

4

5

6

A B C D EID Last

nameFirstname

Title Birthdate

1 Davis Sara Sal

es

Rep

.

12/8/19

68

2 Fonta

na

Olivier V.P.

of

Sales

2/19/19

52

3 Leal Karin

a

Sal

es

Rep

.

8/30/19

63


41/107


41

78

9

10

11

12

4 Patte

n

Micha

el

Sal

es

Rep.

9/19/19

58

5 Burke Brian Sal

es

Mgr

.

3/4/195

5

6 Sousa Luis Sal

es

Rep

.

7/2/196

3

Formula Description Result=INT(YEARFRAC(DATE(2004,6,3

0), VLOOKUP(5,A2:E7,5, FALSE),

1))

For the fiscal year 2004,

finds the age of the

employee with ID equal to

5. Uses the YEARFRACfunction to subtract the

birth date from the fiscal

year end date and displays

the result as an integer

using the INT function.

49

=IF(ISNA(VLOOKUP(5,A2:E7,2,FA

LSE)) = TRUE, "Employee not

found",

VLOOKUP(5,A2:E7,2,FALSE))

If there is an employee with

an ID of 5, displays the

employee's last name;

otherwise, displays the

message "Employee not

found".

The ISNA function returns aTRUE value when the

VLOOKUP function returnsthe #NA error value.

Burke

=IF(ISNA(VLOOKUP(15,A3:E8,2,F

ALSE)) = TRUE, "Employee not

found",

VLOOKUP(15,A3:E8,2,FALSE))

If there is an employee with

an ID of 15, displays the

employee's last name;

otherwise, displays the

message "Employee not

found".

The ISNA function returns a

Employe

e not

found


42/107


42

TRUE value when the

VLOOKUP function returnsthe #NA error value.

=VLOOKUP(4,A2:E7,3,FALSE) & "

" & VLOOKUP(4,A2:E7,2,FALSE)& " is a " &

VLOOKUP(4,A2:E7,4,FALSE)

For the employee with an ID

of 4, concatenates thevalues of three cells into a

complete sentence.

Michael

Patten isa Sales

Rep.

IF functionDescriptionThe IF function returns one value if a condition you specify evaluates to TRUE, and another valueif that condition evaluates to FALSE. For example, the formula =IF(A1>10,"Over 10","10 or less")returns "Over 10" if A1 is greater than 10, and "10 or less" if A1 is less than or equal to 10.

SyntaxIF(logical_test, [value_if_true], [value_if_false])The IF function syntax has the following arguments:

logical_test Required. Any value or expression that can be evaluated to TRUE or FALSE. Forexample, A10=100 is a logical expression; if the value in cell A10 is equal to 100, the

expression evaluates to TRUE. Otherwise, the expression evaluates to FALSE. This argument

can use any comparison calculation operator.

value_if_true Optional. The value that you want to be returned if the logical_test argumentevaluates to TRUE. For example, if the value of this argument is the text string "Within

budget" and the logical_test argument evaluates to TRUE, the IF function returns the text"Within budget." If logical_test evaluates to TRUE and the value_if_true argument isomitted (that is, there is only a comma following the logical_test argument), the IF functionreturns 0 (zero). To display the word TRUE, use the logical value TRUE for the value_if_trueargument.

value_if_false Optional. The value that you want to be returned if the logical_test argumentevaluates to FALSE. For example, if the value of this argument is the text string "Over

budget" and the logical_test argument evaluates to FALSE, the IF function returns the text"Over budget." If logical_test evaluates to FALSE and the value_if_false argument isomitted, (that is, there is no comma following the value_if_true argument), the IF functionreturns the logical value FALSE. If logical_test evaluates to FALSE and the value of thevalue_if_false argument is omitted (that is, in the IF function, there is no comma followingthe value_if_true argument), the IF function returns the value 0 (zero).

Remarks


43/107


43

Up to 64 IF functions can be nested as value_if_true and value_if_false arguments toconstruct more elaborate tests. (See Example 3 for a sample of nested IF functions.)Alternatively, to test many conditions, consider using the LOOKUP, VLOOKUP, HLOOKUP, or

CHOOSE functions. (See Example 4 for a sample of the LOOKUP function.)If any of the arguments to IF are arrays, every element of the array is evaluated when the IFstatement is carried out.

Excel provides additional functions that can be used to analyze your data based on a

condition. For example, to count the number of occurrences of a string of text or a number

within a range of cells, use the COUNTIF or the COUNTIFS worksheet functions. To calculate

a sum based on a string of text or a number within a range, use the SUMIF or the SUMIFS

worksheet functions.

Example 1

123

4

5

A B CData50 23

Formula Description Result=IF(A2


44/107


44

6

7

=IF(A2>B2,"Over

Budget","OK")

Checks whether the expenses in

row 2 are over budget

Over

Budget

=IF(A3>B3,"Over

Budget","OK")

Checks whether the expenses in

row 3 are over budget

OK

Example 3

12345

6

7

8

A B CScore45

90

78

Formula Description Result=IF(A2>89,"A",IF(A2>79,"B",

IF(A2>69,"C",IF(A2>59,"D","F"))))

Assigns a letter grade

to the score in cell A2

F

=IF(A3>89,"A",IF(A3>79,"B",

IF(A3>69,"C",IF(A3>59,"D","F"))))



A

=IF(A4>89,"A",IF(A4>79,"B",

IF(A4>69,"C",IF(A4>59,"D","F"))))



C

The preceding example demonstrates how you can nest IF statements. In each formula, thefourth IF statement is also the value_if_false argument to the third IF statement. Similarly, thethird IF statement is the value_if_false argument to the second IF statement, and the second IFstatement is the value_if_false argument to the first IF statement. For example, if the firstlogical_test argument (Average>89) evaluates to TRUE, "A" is returned. If the first logical_testargument evaluates to FALSE, the second IF statement is evaluated, and so on. You can also useother functions as arguments.

The letter grades are assigned to numbers, using the following key.

If Score is Then returnGreater than 89 A

From 80 to 89 B

From 70 to 79 C

From 60 to 69 D

Less than 60 F


45/107


45

Example 4In this example, the LOOKUP function is used instead of the IF function because there arethirteen conditions to test. You may find the LOOKUP function easier to read and maintain thanthe IF function.

12345

6

7

8

A B CScore45

90

78

Formula Description Result=LOOKUP(A2,{0,60,63,67,70,73,77,80,83,87,90,93,97},

{"F","D-","D","D+","C-","C","C+","B-","B","B+","A-

","A","A+"})

Assigns a

letter

grade to

the score

in cell A2

F

=LOOKUP(A3,{0,60,63,67,70,73,77,80,83,87,90,93,97},

{"F","D-","D","D+","C-","C","C+","B-","B","B+","A-

","A","A+"})

Assigns a

letter

grade to

the scorein cell A3

A-

=LOOKUP(A4,{0,60,63,67,70,73,77,80,83,87,90,93,97},

{"F","D-","D","D+","C-","C","C+","B-","B","B+","A-

","A","A+"})

Assigns a

letter

grade to

the score

in cell A4

C+

AND functionThis article describes the formula syntax and usage of the ANDfunction in Microsoft Excel.DescriptionReturns TRUE if all its arguments evaluate to TRUE; returns FALSE if one or more arguments

evaluate to FALSE.

One common use for the AND function is to expand the usefulness of other functions thatperform logical tests. For example, the IF function performs a logical test and then returns one


46/107


46

value if the test evaluates to TRUE and another value if the test evaluates to FALSE. By using the

AND function as thelogical_test argument of the IF function, you can test many differentconditions instead of just one.

SyntaxAND(logical1, [logical2], ...)The AND function syntax has the following arguments:

1. logical1 Required. The first condition that you want to test that can evaluate to either TRUEor FALSE.

2. logical2, ... Optional. Additional conditions that you want to test that can evaluate to eitherTRUE or FALSE, up to a maximum of 255 conditions.

RemarksThe arguments must evaluate to logical values, such as TRUE or FALSE, or the arguments

must be arrays or references that contain logical values.

If an array or reference argument contains text or empty cells, those values are ignored.

If the specified range contains no logical values, the AND function returns the #VALUE! errorvalue.

Example 1The example may be easier to understand if you copy it to a blank worksheet.

1234

A B CFormula Description Result=AND(TRUE, TRUE) All arguments are TRUE TRUE

=AND(TRUE, FALSE) One argument is FALSE FALSE

=AND(2+2=4, 2+3=5) All arguments evaluate to TRUE TRUE

Example 2

123

A B CData50

104


47/107


47

4

5

6

7

Formula Description Result=AND(1


48/107


48

Example

1234

A BFormula Description (Result)=OR(TRUE) One argument is TRUE (TRUE)

=OR(1+1=1,2+2=5) All arguments evaluate to FALSE (FALSE)

=OR(TRUE,FALSE,TRUE) At least one argument is TRUE (TRUE)

ISERRORIS functionsThis article describes the formula syntax and usage of the ISfunctions in Microsoft Excel.DescriptionEach of these functions, referred to collectively as the IS functions, checks the specified valueand returns TRUE or FALSE depending on the outcome. For example, the ISBLANK functionreturns the logical value TRUE if the value argument is a reference to an empty cell; otherwise it

returns FALSE.

You can use an IS function to get information about a value before performing a calculation orother action with it. For example, you can use the ISERROR function in conjunction with the IFfunction to perform a different action if an error occurs:

=IF(ISERROR(A1), "An error occurred.", A1 * 2)This formula checks to see if an error condition exists in A1. If so, the IF function returns themessage "An error occurred." If no error exists, the IF function performs the calculation A1*2.SyntaxISBLANK(value)ISERR(value)ISERROR(value)ISLOGICAL(value)ISNA(value)ISNONTEXT(value)


49/107


49

ISNUMBER(value)ISREF(value)ISTEXT(value)The IS function syntax has the following argument:

value Required. The value that you want tested. The value argument can be a blank (emptycell), error, logical value, text, number, or reference value, or a name referring to any of

these.

Function Returns TRUE ifISBLANK Value refers to an empty cell.

ISERR Value refers to any error value except #N/A.

ISERROR Value refers to any error value (#N/A, #VALUE!, #REF!, #DIV/0!, #NUM!,

#NAME?, or #NULL!).

ISLOGICAL Value refers to a logical value.

ISNA Value refers to the #N/A (value not available) error value.

ISNONTEXT Value refers to any item that is not text. (Note that this function returns TRUE

if the value refers to a blank cell.)

ISNUMBER Value refers to a number.

ISREF Value refers to a reference.

ISTEXT Value refers to text.

RemarksThe value arguments of the IS functions are not converted. Any numeric values that areenclosed in double quotation marks are treated as text. For example, in most other

functions where a number is required, the text value "19" is converted to the number 19.

However, in the formula ISNUMBER("19"), "19" is not converted from a text value to anumber value, and the ISNUMBER function returns FALSE.The IS functions are useful in formulas for testing the outcome of a calculation. Whencombined with the IF function, these functions provide a method for locating errors informulas (see the following examples).


50/107


50

Example 1

123456

A B CFormula Description Result=ISLOGICAL(TRUE) Checks whether TRUE is a logical value TRUE

=ISLOGICAL("TRUE") Checks whether "TRUE" is a logical value FALSE

=ISNUMBER(4) Checks whether 4 is a number TRUE

=ISREF(G8) Checks whether G8 is a valid reference TRUE

=ISREF(XYZ1) Checks whether XYZ1 is a valid reference FALSE

Example 2

123456789

10

11

12

13

14

A B CDataGold

Region1

#REF!

330.92

#N/A

Formula Description Result=ISBLANK(A2) Checks whether cell A2 is blank. FALSE

=ISERROR(A4) Checks whether the value in cell A4, #REF!, is

an error.

TRUE

=ISNA(A4) Checks whether the value in cell A4, #REF!, is

the #N/A error.

FALSE

=ISNA(A6) Checks whether the value in cell A6, #N/A, is

the #N/A error.

TRUE

=ISERR(A6) Checks whether the value in cell A6, #N/A, is

an error.

FALSE

=ISNUMBER(A5) Checks whether the value in cell A5, 330.92, is

a number.

TRUE

=ISTEXT(A3) Checks whether the value in cell A3, Region1,

is text.

TRUE


51/107


51

DSUM functionDescriptionAdds the numbers in a field (column) of records in a list or database that match conditions that

you specify.

SyntaxDSUM(database, field, criteria)The DSUM function syntax has the followingarguments:

Database Required. The range of cells that makes up the list or database. A database is alist of related data in which rows of related information are records, and columns of data

are fields. The first row of the list contains labels for each column.

Field Required. Indicates which column is used in the function. Enter the column labelenclosed between double quotation marks, such as "Age" or "Yield," or a number (without

quotation marks) that represents the position of the column within the list: 1 for the first

column, 2 for the second column, and so on.

Criteria Required. Is the range of cells that contains the conditions that you specify. Youcan use any range for the criteria argument, as long as it includes at least one column label

and at least one cell below the column label in which you specify a condition for the

column.

RemarksYou can use any range for the criteria argument, as long as it includes at least one column

label and at least one cell below the column label for specifying the condition.

For example, if the range G1:G2 contains the column label Income in G1 and the amount

$10,000 in G2, you could define the range as MatchIncome and use that name as the criteria

argument in the database functions.

Although the criteria range can be located anywhere on the worksheet, do not place the

criteria range below the list. If you add more information to the list, the new information is

added to the first row below the list. If the row below the list is not blank, Microsoft Excel

cannot add the new information.

Make sure that the criteria range does not overlap the list.

To perform an operation on an entire column in a database, enter a blank line below the

column labels in the criteria range.
http://appendpopup%28this%2C%27ofargument_2_2%27%29/http://appendpopup%28this%2C%27ofargument_2_2%27%29/http://appendpopup%28this%2C%27ofargument_2_2%27%29/http://appendpopup%28this%2C%27ofargument_2_2%27%29/


52/107


52


53/107


53

Examples

1234567891011

12

13

A B C D E FTree Height Age Yield Profit Height="=Apple" >10


54/107


54

What you type in the cell What Excel evaluates and displays="=Davolio" =Davolio

="=3000" =3000

When filtering text data, Excel does not distinguish between uppercase and lowercase

characters. However, you can use a formula to perform a case-sensitive search. The

following sections provide examples of complex criteria.

Multiple criteria in one columnBoolean logic: (Salesperson = "Davolio" OR Salesperson = "Buchanan")To find rows that meet multiple criteria for one column, type the criteria directly below each

other in separate rows of the criteria range.

In the following data range (A6:C10), the criteria range (B1:B3) displays the rows that contain

either "Davolio" or "Buchanan" in the Salesperson column (A8:C10).

A B C1 Type Salesperson Sales2 =Davolio3 =Buchanan456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $632810 Produce Davolio $6544

Multiple criteria in multiple columns where all criteria must be trueBoolean logic: (Type = "Produce" AND Sales > 1000)To find rows that meet multiple criteria in multiple columns, type all of the criteria in the same

row of the criteria range.

In the following data range (A6:C10), the criteria range (A1:C2) displays all rows that contain

"Produce" in the Type column and a value greater than $1,000 in the Sales column (A9:C10).


55/107


55

A B C1 Type Salesperson Sales2 =Produce >10003456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $632810 Produce Davolio $6544

Multiple criteria in multiple columns where any criteria can be trueBoolean logic: (Type = "Produce" OR Salesperson = "Davolio")To find rows that meet multiple criteria in multiple columns, where any criteria can be true, type

the criteria in different rows of the criteria range.

In the following data range (A6:C10), the criteria range (A1:B3) displays all rows that contain"Produce" in the Type column or "Davolio" in the Salesperson column (A8:C10).

A B C1 Type Salesperson Sales2 =Produce3 =Davolio456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $6328


56/107


56

10 Produce Davolio $6544Multiple sets of criteria where each set includes criteria for multiple columnsBoolean logic: ( (Salesperson = "Davolio" AND Sales >3000) OR (Salesperson = "Buchanan"AND Sales > 1500) )

To find rows that meet multiple sets of criteria, where each set includes criteria for multiple

columns, type each set of criteria in separate rows.

In the following data range (A6:C10), the criteria range (B1:C3) displays the rows that contain

both "Davolio" in the Salesperson column and a value greater than $3,000 in the Sales column,

or displays the rows that contain "Buchanan" in the Salesperson and a value greater than

$1,500 in the Sales column (A9:C10).

A B C1 Type Salesperson Sales2 =Davolio >30003 =Buchanan >1500456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $632810 Produce Davolio $6544

Multiple sets of criteria where each set includes criteria for one columnBoolean logic: ( (Sales > 6000 AND Sales < 6500 ) OR (Sales < 500) )To find rows that meet multiple sets of criteria, where each set includes criteria for one column,

include multiple columns with the same column heading.

In the following data range (A6:C10), the criteria range (C1:D3) displays rows that contain values

between 6,000 and 6,500 and values less than 500 in the Sales column (A8:C10).

A B C D1 Type Salesperson Sales Sales2 >6000


57/107


57

3


58/107


58

456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $632810 Produce Davolio $6544

Criteria created as the result of a formulaYou can use a calculated value that is the result of a formula as your criterion. Remember the

following important points:

The formula must evaluate to TRUE or FALSE.

Because you are using a formula, enter the formula as you normally would, and do not type

the expression in the following way:

=''=entry''Do not use a column label for criteria labels; either keep the criteria labels blank or use a

label that is not a column label in the range (in the examples below, Calculated Average

and Exact Match).

If you use a column label in the formula instead of a relative cell reference or a range name,

Excel displays an error value such as #NAME? or #VALUE! in the cell that contains the criterion.You can ignore this error because it does not affect how the range is filtered.

The formula that you use for criteria must use a relative reference to refer to the

corresponding cell in the first row (in the examples below, C7 and A7).

All other references in the formula must be absolute references.

The following subsections provide specific examples of criteria created as the result of a

formula.

Filtering for values greater than the average of all values in the data rangeIn the following data range (A6:D10), the criteria range (D1:D2) displays rows that have a value

in the Sales column greater than the average of all the Sales values (C7:C10). In the formula,

"C7" refers to the filtered column (C) of the first row of the data range (7).


59/107


59

A B C D1 Type Salesperson Sales Calculated Average2 =C7>AVERAGE($C$7:$C$10)3456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $632810 Produce Davolio $6544

Filtering for text by using a case-sensitive searchIn the data range (A6:D10), the criteria range (D1:D2) displays rows that contain "Produce" in

the Type column by using the EXACT function to perform a case-sensitive search (A10:C10). In

the formula, "A7" refers to the filtered column (A) of the first row of the data range (7).

A B C D1 Type Salesperson Sales Exact Match2 =EXACT(A7, "Produce")3456 Type Salesperson Sales7 Beverages Suyama $51228 Meat Davolio $4509 produce Buchanan $632810 Produce Davolio $6544

DMIN functionThis article describes the formula syntax and usage of the DMINfunction in Microsoft Excel.


60/107


60

Description

Returns the smallest number in a field (column) of records in a list or database that matches

conditions that you specify.

Syntax

DMIN(database, field, criteria)

The DMIN function syntax has the following arguments:

Database Required. The range of cells that makes up the list or database. A database is alist of related data in which rows of related information are records, and columns of data

are fields. The first row of the list contains labe

Documents

MS Excel 2007 Advanced