Predefined formulas that perform common business calculations, and which typically involve a period of time such as months or years
Financial functions
The amount charged for the use of borrowed money
Interest
In the Excel PMT function, the term used to indicate the interest rate for a loan
Rate
The total amount that a series of future payments is worth now
Present Value (Pv)
Another term for present value
Principle
The abbreviation for number of time periods in various excel functions
Nper
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
Future Value (Fv)
The values that an excel function that uses to perform calculations or operations
Data Table
An Excel function that calculates the payment for a loan based on constant payments and at a constant interest rate
PMT Function
An optional argument in the PMT function that assumes that the payment will be made at the end of each time period
Type Arguments
The process of changing the values in cells to see how those changes affect the outcome of formulas in the worksheet
What-if Analysis
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
Goal Seek
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
Arguments
A data table that changes the value in only one cell