Tuesday, January 19, 2010

Insert Function Wizard

Regardless of the version of Excel you may be using, the Insert Function Wizard can be a very helpful in performing a bit of magic when you need it. The magic it provides is translating your wishes into dreams come true (well, that is overstating it, but I think you will see my point).
Let’s face it, there are times when you may think that Excel has a Function that you can use in a formula, but you don’t know what it is called or how to use it. You can describe it, but what Excel calls it is simply a mystery. The solution is (a little magic music here…) the Function Wizard!

Just go to the icon that looks like an fx on your toolbar (or the Insert Function under Formulas if you are using Excel 2007), and type a brief description of what you want to do. For instance, let’s say you want to calculate what your loan payments are going to be when you buy the new car you have had your eye on. All you need to do is:

1) Pull up the Insert Function Wizard
2) Type your description in the search textbox (in this case, “loan payment”)
3) Select the function (in this instance it would be PMT)
4) Complete the Function Arguments and click OK

Presto! You have your customized function for your formula! Give it a try; it is easy and can perform a bit of magic when you need it.

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