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Finite math, K201, calculus, and statistics explained

Our last video for GP6 covers Excel's IF formula. We go over some simple use cases (for GP6), as well as some more complicated applications. We'll talk about how IF formulas can be used inside another IF formula ("nested IFs") along with the AND and OR boolean functions to build decision trees.

Nested IF statements tend to give K201 students a lot of trouble, so we hope this video can help clear things up a bit!

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In this video, we cover some of the other common financial formulas that come up in K201's Excel unit. Examples include comparing investment options using the PV (present value) function, planning a college fund with the NPER formula, and computing the annual interest rate on a known payoff amount for an investment with RATE.

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An amortization schedule is typically used to describe compound-interest loans that have a fixed amount to be paid each period (often months) until the entire principal and interest have been paid off. It shows how the principal (initial amount borrowed) and interest accrued change from month to month, assuming that payments are made on time.

Most K201 students find the unit on amortization tables to be pretty easy. Once you've done one, you've done them all! Nevertheless, today we present two different problems that involve using the PMT formula to construct an amortization table (if you're curious as to how the PMT formula actually works, see this article for an explanation of how to derive and solve the geometric series for amortizing loans.)

In the next video, Dalia will go over some of the other financial formulas covered by GP6.

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Second video of today's double feature: GP5: COUNTIF, SUMIF, AVERAGEIF. These concepts are easy when first learned but as time goes on, and students learn more complicated formulas, they seem to always forget that the answer is simple. If your struggling with GP5, make sure and catch up with our other two GP5 videos, including COUNT, SUM, AVERAGE, MAX, MIN and last week's video, DATEDIFs.

The exercise spreadsheet that accompanies this video is the same as the one for part 2.

Today we're releasing a double feature on GP5. In this first video, we're explaining COUNT, SUM, AVERAGE, MAX, MIN. These concepts, also called aggregate functions, are pretty easy to understand. So, in part two we'll step up our game with some IFs.

Download the exercise files