MOS Excel: Formulas and Functions 3

Question 1

Which formula correctly calculates compound interest where rate is in B1, periods in B2, and principal in B3?

Accepted Answer

=B3*(1+B1)^B2

Answer

The compound interest formula is Principal × (1 + rate)^periods, represented in Excel as =B3*(1+B1)^B2.

Question 2

What is the purpose of the CONCATENATE function (or & operator) in Excel?

Accepted Answer

Joins multiple text strings into one

Answer

CONCATENATE (or the & operator) joins two or more text strings together into a single string.

Question 3

Which function returns the largest value in a range?

Accepted Answer

MAX

Answer

MAX returns the maximum (largest) numeric value in a given range.

Question 4

A VLOOKUP formula has FALSE as its last argument. What does this specify?

Accepted Answer

Exact match

Answer

FALSE (or 0) as the range_lookup argument in VLOOKUP specifies an exact match, returning an error if no exact value is found.

Question 5

What does =LEFT("Microsoft", 5) return?

Accepted Answer

Micro

Answer

LEFT extracts characters from the beginning of a string; LEFT("Microsoft", 5) returns the first 5 characters: 'Micro'.

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