Fresh Excel Tips

Let’s say a bank advertises that if you deposit $500 each month for 12 years, you will have $100,000 at the end of the period. What is the interest rate the bank is paying? To answer this question, use the RATE function, which returns the interest rate per period of an annuity. Here is the [...]

In this example you want to save money for five months. The interest rate is 3.5%. Every month you deposit $500 at the bank. How much money is in your bank account after five months? This question can be answered by using the FV function. It returns the future value of an investment based on [...]

Here we want to calculate the straight-line depreciation of an investment. Use the SLN function, which returns the straight-line depreciation of an asset for one period. Here is the syntax that is used: SLN(cost, salvage, life) cost: The asset’s initial cost. salvage: The value of the asset at the end of the depreciation. life: The number of periods over [...]

In this tip, we calculate the depreciation of an investment. To do so, use the SYD function, which returns the sum-of-years’ digits depreciation of an asset for a specified period. Here is the syntax that is used: SYD(cost, salvage, life, per) cost: The asset’s initial cost. salvage: The value of the asset at the end of the deprecation. life: [...]

In this example, we will show you how to determine the least common multiple of two integers. Excel provides the LCM function through the Analysis ToolPak add-in. You will need to install and load the add-in to perform these steps. Here is the syntax that is used: LCM(number1, number2, …) number1, number2, …: From 1 to 29 [...]

In this example, the greatest common divisor of two integers has to be determined. To do so, use the GCD function. This function is only available if you have the Analysis ToolPak add-in installed. Here is the syntax that is used: GCD(number1, number2, …) number1, number2, …: From 1 to 29 values for which you want to [...]

In this example we will be illustrating how to use the SUMSQ Function. Excel provides the SUMSQ function to sum the squares of the arguments. Here is the syntax that is used for the SUMSQ Function: SUMSQ(number1, number2, …) number1, number2, …: From 1 to 30 arguments that will have their squares summed up. Instead of values, [...]

This tip explains how to convert an Arabic numeral to a Roman numeral. To get this result, use the ROMAN function, which returns the Roman value as text. Here is the syntax that is used: ROMAN(number, form) number: The Arabic numeral to be converted. form: (optional) A number from 0 to 4 that specifies the type of Roman [...]

In our previous articles, we went over standard functions for rounding up a number. In addition to those, there are other functions available like EVEN and ODD. For example, to round up a number to the nearest even integer, use the EVEN function. Here is the syntax that is used for both the even and [...]

To generate randomized values in a specified range, such as from 1 to 49, use the RANDBETWEEN function. This function returns a random number in the range you specify, returning a new random number every time the worksheet is calculated. If this function is not available and returns the #NAME? error, install and load the Analysis [...]