Free Excel 2003 quiz - Test Your Skills!

Financial functions

The aim of this quiz is to check your knowledge of Financial functions in Excel 2003.

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Questions

Have a look at the example below.

Using the PMT function, how would you work out the monthly payments on a loan of £10,000, at 12% interest, over 4 years?

Please select an answer...
- =PMT(B3/12,B4,B2)
- =PMT(B4,B3,B2)
- =PMT(B3,B4,B2)
- =PMT(B4/12,B3,B2)
What does the Rate function work out?

Please select an answer...
- The repayment rate
- The interest rate
- The number of months it will take to pay off a loan
- The present value of a loan
When do you use the Net Present Value function?

Please select an answer...
- NPV is used to work out the interest rate
- NPV is used to work out what savings will be worth in the future
- NPV works out the value of savings before tax
- NPV is used when you have a fluctuating series of payments

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