In this practice session, you'll use the PMT function to figure out how much to save each month to accumulate a specific amount, starting with a zero balance. You'll also use the PV function to figure out the amount to deposit to start your savings, and you'll use the FV function to figure out how much an interest-bearing account will earn over time.
You can also try something new: using the result of one formula as an argument in another.
About the practice session
When you click Practice in Excel, a practice worksheet will download to your computer and open in Excel, and a separate window with practice instructions will appear alongside (see picture).
Note You need to have Excel 2003 installed on your computer.
- If the practice instructions aren't visible, or if they disappear when you click in Excel, click the Excel Help taskbar button and then click the Auto Tile button in the upper-left corner of the instructions.
- If the practice instructions cover up Excel, click the Auto Tile button in the upper-left corner of the instructions.
Before you begin
Make sure to close Excel if it is already running.
Start the practice
Click the Practice in Excel button now.