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Microsoft Excel: Taking Formulas Further

Excel allows you to name a cell or a group of cells. When you use the names in formulas, the formulas appear simpler and easier to understand – it’s the difference between =SUM(C47:M58) and =SUM(Expenses). Using names also makes it easy to locate and select the named cells. To name a cell or cells: 1. Select the cell(s) you want to name. 2. Then either a. Click in the Name Box to the left of the Formula Bar. Type the name and press Enter or b. Click to view the Formula Ribbon. Click the Define Name button in the Defined Names group and choose Define Name from the menu. Type the name in the New Name box. This method allows you to add comments and to set the scope of the name (see below) To substitute a name for cell references in existing formulas, use Apply Name. Click the Define Name button as above, but choose Apply Name from the menu. On the Apply Name box, select the desired name(s) and click OK. Excel will search for any formulas that refer to the named cells and change those cell references to the name. Properties and Uses of Names Names can contain letters, numbers, periods, and underscore characters but not spaces. Names have scope. The scope of a name refers to the portion of the workbook the name applies to. By default, a name’s scope is the entire workbook but you can restrict the scope to a particular worksheet. Names must be unique within their scope; in other words, you cannot have two identical names with the same scope. Select a range quickly by clicking the Name Box dropdown arrow and clicking the range name you want. Names can be used in formulas and functions. Just type the name where you would ordinarily type a cell reference. Shortcut: When you are entering formulas, range names appear in the Autocomplete list. Double click the name to insert it in the formula. Names always provide an absolute reference: they don’t change when you copy and paste the formula. Use the Name Manager button to see all names defined in the workbook, including their scope and comments, or to edit and delete names.

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To insert a 3-D cell reference. Begin the formula or function by typing the equal sign (=) as usual. amount to a savings acct or period.type) IF function (Logical) Returns one of two results based on a comparison/logical test. Syntax: =IF(logical_test.1 if they are due at the beginning of the out (loan payment. to average cell B3 on Sheets 1-5 in a workbook). If the test is true. the other is given. click the tab of the desired sheet and click to select the desired cell (or drag to select a range). pmt=amount of the (usually monthly) payment. PMT function Calculates monthly payments for a loan based on a fixed interest rate. Convert all date-related information to use the same units (months or years). Syntax: =NOW( ) Financial Functions: Terms rate=interest rate.nper. IF functions may be nested.pmt. Syntax: =PMT(rate. Syntax: =TODAY( ) NOW function Shows the current system date and time. investment (at end of the term). type=0 if payments are due at the end of the Should be negative for money you are paying period. Convert all date-related information to use the same units (months or years).value_if_true.pv. one answer is given. Must be in the same time units pv=present value.type) FV function Calculates the future value of a loan or investment based on a fixed interest rate. nper=number of payments over the term or loan fv=future value of loan (usually zero) or period. loan. Same as the principal of the as payments. Use 3-D references in formulas or functions 3-D cell references pull data from a “stack” of worksheets (for example. group the worksheets containing the data (see instructions above) and click to select the desired cell (or drag to select a range).value_if_false) Page 2 of 6 . Continue the formula as usual. investment). To insert a cell reference from a different sheet. Continue the formula as usual. if it is false. divide rate by 12.nper. TODAY function Shows the current system date. so if payments are monthly. Optional. Syntax: =FV(rate.pv.Microsoft Office Excel 2007 Use cells from various sheets in formulas or functions Microsoft Excel: Taking Formulas Further Begin the formula or function by typing the equal sign (=) as usual.fv.

Formula Tools from the Data Ribbon Use Goal Seek Sets a formula cell to a desired result by changing the value of one of the terms in the equation. type the cell reference of the cell containing the formula. Click OK.Microsoft Office Excel 2007 Troubleshoot formulas and functions with Auditing tools View the Data Ribbon and locate the Formula Auditing group: Microsoft Excel: Taking Formulas Further Click a cell containing a formula or function. and the spreadsheet will show the answer Excel arrived at. Click OK to accept the result or click Cancel to discard it. and in the “By changing cell” box. Click the Evaluate Formula button to watch Excel calculate a formula step by step. Click the Error Checking button to locate cells containing errors and correct the problems. In the “To value” box. then click the Trace Precedents button to see which cells “feed into” the formula or function. Click the Remove Arrows button to clear the arrows from the page. Set up the formula. then click the Trace Dependents button to see if any formulas use data from this cell. Click the Watch Window button to open the window. The Watch Window will display the formulas’ values as you make changes anywhere in the workbook. and click What-If Analysis in the Data Tools group. Display formulas rather than answers in the cells by clicking the Show Formulas button. Add as many watches as you need. using separate cells for each variable. Choose Goal Seek from the menu. Use the Watch Window to keep an eye on formulas while you are working on a different worksheet or a different area. Click any cell. The Goal Seek box will appear. In the “Set cell” box. then click the Add Watch button on the window’s toolbar and select the cell containing the formula(s) you want to watch. type the desired formula result. Page 3 of 6 . Click the Data tab. The result box will appear. type the reference of the cell you wish to vary.

and click OK.) Next. It’s a good idea for one of the cells to contain text describing the separate scenarios so you can tell which one you are using at a given time. Save the workbook. and use scenarios to produce versions of it for different purposes. Click Add. Type a name for your scenario and check that the correct cells are listed in the Changing Cells box. click What-If Analysis in the Data Tools group and choose Scenario Manager from the menu. Click OK to save the first scenario. and clicking Show. with your original values. You can create a workbook. The Scenario Values box now appears. telling you no scenarios have been defined. The values for the chosen scenario will appear in the changing cells. Set up a workbook for the first of your scenarios. When you have created all your scenarios. The Add Scenarios box appears. formulas and charts you intend to use. and all formulas and graphs depending on these values will be updated. choose which scenario to view by opening the Scenario Manager. showing the values for each of the cells selected for changes. complete with graphs and charts. The Scenario Manager will appear. Click Add to create the next scenario and give it a new name in the Add Scenarios box. containing all the data labels.Microsoft Office Excel 2007 Use Scenarios Microsoft Excel: Taking Formulas Further Scenarios let you consider different projected outcomes of a situation by changing selected cells in a worksheet. Edit the Comments if desired. Click OK again to return to the Scenario Values box for your second scenario. Page 4 of 6 . clicking the scenario name. then select the cells you will be changing in the scenarios (use Shift+Click and Ctrl+Click to select the cells. Edit the cells to reflect the values for your second scenario. and return to the Scenario Manager.

Use the range name in this formula. Repeat for cells B5 through B8. In cell B12. Click the upper left cell of the area you want to paste into. type a formula to calculate the commission on the values in column D.) 1. b. Use the values in column B. but does not paste formats Values: Pastes the calculated answers of formulas rather than the formulas themselves Formats: Pastes formats (except column widths) but not cell contents – same as Format Painter Column Widths: Does not paste any data. West and Summary. a. switching rows and columns Practice Exercises: Go to this website: http://www. but an 8% commission if he sells $2000 or more.org/advanced_classes/advanced_ms_excel_1 and download the workbook named Advanced Excel Practice . just makes columns in the paste area the same width as those in the copy area. In cell B10. (For users of earlier versions of Microsoft Word.smfpl. formats. c. select the desired options: Formulas: Pastes cell contents. South. In cell E2. Transpose: Pastes contents of copied cells. and West. I have included a copy of the file in the old format as well.00? 2. Copy cell B3. Page 5 of 6 . b. and then click the dropdown arrow below the Paste button in the Clipboard group of the Home Ribbon. In cell B11. including formulas. East. use the Sum function and 3-D references to calculate the total of cell B3 on North.Microsoft Office Excel 2007 Microsoft Excel: Taking Formulas Further Use Paste Special to selectively paste cell data. d.Workbooks. On the Paste Special box. South. including formulas. type a function to calculate the sum of all the sales for the month. East. Using Paste Special. Name this cell CommAmt. or other aspects Select and copy the cells whose format you want to duplicate. Skip Blanks: Pastes only cells that contain data. Copy the formula into rows 3-7 using the fill handle. type an IF function that gives the salesman a 6% commission if his gross sales are under $2000. does not paste blank cells. Operations: Performs selected operation between copied cells and the corresponding cells in the paste region. type a function to calculate the sum of all the commissions for the month. Open the workbook and view the sheet marked Commissions. do the following: a. In cell B3 on Summary. What is the salesman’s commission? What would his commission be if the Edwards job had been for $785. Working with the sheets named North. paste the formula only (not the formatting) into cell B4. Choose Paste Special from the drop down menu.

(Remember. how much is now available for your down payment? Use the FV function to find out.Microsoft Office Excel 2007 Microsoft Excel: Taking Formulas Further c.) Page 6 of 6 . On the Formulas Ribbon. Now trace precedents for cell D4. 3. find out the maximum price of house you can afford. Name it Mortgage. b. Copy cells B3 through E3.500 and the bank has offered you an interest rate of 5. How does Excel indicate which cells are used by this formula? ii. use the tools in the Formula Auditing group.75%. but you can only afford a payment of $650 a month. Use the fill handle to copy cells B3 through B8 into the remaining “striped” cells on the Summary sheet. You like the idea of a 15-year mortgage. Trace precedents for cell B9. a.19% on a 30-year mortgage or 4. i. You and they have each been putting in $100 a month since then (total savings $200/month). Use the Remove Arrows button to remove the arrows when you are done with them. You want to buy a condo that is selling for $130. you are setting the payment cell to a negative amount. What is the average expense per attendee over all four regions in the third quarter? e. and use Paste Special again to paste the formulas only into cells B12 through E12. Trace dependents for cell C12. Bonus: How much money will you pay out over the life of each of those two loans? c.65% on a 15-year mortgage. Ten years ago your parents set up a fund to help you with a down payment. d. Use the PMT function to calculate your monthly payment for each of those loans. Create a new sheet in your workbook. Maybe you should find a cheaper condo? Using Goal Seek. Why does this display look different from the previous one? iii. If the interest rate was 1.

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