1/10/22, 9:19 AM Top 15 Financial Functions in Excel | WallStreetMojo

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Top 15 Financial Functions in Excel

Microsoft Excel is the most important tool of  Investment Bankersand
Financial Analysts. They spent more than 70% of the time preparing Excel
Models, formulating Assumptions, Valuations, Calculations, Graphs, etc. It is
safe to assume that Investment bankers are masters in excel shortcuts and
formulas. Though there are more than 50+ Financial Functions in Excel, here is
the list of Top 15 financial functions in excel that are most frequently used in
practical situations.

x
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Without much ado, let’s have a look at all the financial functions one by one –

#1 – Future Value (FV)

#2 – FVSCHEDULE

#3 – Present Value (PV)

#4 – Net Present Value (NPV)

x
#5 Free
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#6 – PMT
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#7 – PPMT
Youtube Channel

#8 – Internal Rate of Return (IRR)

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#10 – XIRR

#11 – NPER

#12 – RATE
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#13 – EFFECT
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#14 – NOMINAL

#15 – SLN

#1 – Future Value (FV): Financial Function

in Excel 
If you want to find out the future value of a particular investment which has a
constant interest rate and periodic payment, use the following formula –

FV (Rate, Nper, [Pmt], PV, [Type])

Rate = It is the interest rate/period

Nper = Number of periods

[Pmt] = Payment/period

PV = Present Value x
Get Free
[Type] Access
= When the to 500+ is made (if nothing is mentioned, it’s assumed
payment
Videos
that thein Excel,has
payment VBA & More
been made at the end of the period)
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FVYoutube
ExampleChannel

A has invested the US57.7K

$100 in 2016. The payment has been made yearly. The
subscribers
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interest rate is 10% p.a. What would be the FV in 2019?
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Solution: In excel, we will put the equation as follows –



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= FV (10%, 3, 1, – 100)

= US $129.79

#2 – FVSCHEDULE: Financial Function in
Excel 
This financial function is important when you need to calculate the future
value with the variable interest rate. Have a look at the function below –

FVSCHEDULE = (Principal, Schedule) x

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Principalin=Excel,
Videos Principal
VBAis the
& present
More value of a particular investment
Schedule to
Subscribe =A series of interest rate put together (in case of excel, we will
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use different boxes and select the range)

FVSCHEDULE Example:
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M has invested the US $100 at the end of 2016. It is expected that the interest

rate will change every year. In 2017, 2018 & 2019, the interest rates would be
4%, 6% & 5% respectively. What would be the FV in 2019?

Solution: InGet
excel,
FREEwe will do theto
Access following –
500+ Video Tutorials
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= FVSCHEDULE (C1, C2: C4)

= US $115.752

#3 – Present Value (PV): Financial Function

in Excel 
If you know how to calculate FV, it’s easier for you to find out PV. Here’s how –

x
PV = (Rate, Nper, [Pmt], FV, [Type])
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Rate = It is the interest rate/period
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Nper = Channel
Youtube Number of periods

[Pmt] = Payment/period
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[Type] = When the payment is made (if nothing is mentioned, it’s assumed

that the payment has been made at the end of the period)

PV Example:
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The future value of an investment in the US $100 in 2019. The payment has
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been made yearly. The interest rate is 10% p.a. What would be the PV as of
now?

Solution: In excel, we will put the equation as follows –

= PV (10%, 3, 1, – 100)

= US $72.64

#4 – Net Present Value (NPV): Financial

Function in Excel 
x
NetGet FreeValue
Present Access
is theto 500+
sum total of positive and negative cash flows over
theVideos in Excel,
years. Here’s VBA
how we will & More it in excel –
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NPV = (Rate, Value 1, [Value 2], [Value 3]…)


Rate = Discount rate for a period

Value 1, [Value 2], [Value 3]… = Positive or negative cash flows

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Here, negative values would be considered as payments, and positive
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values would be treated as inflows.

NPV Example

Here is a series of data from which we need to find NPV –

Details In US $

Rate of Discount 5%

Initial Investment -1000

Return from 1st year 300

Return from 2nd year 400

Return from 3rd year 400

Return from 4th year 300

Find out the NPV.

Solution: In Excel, we will do the followingx –

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=NPV (5%, B4:B7) + B3

= US $240.87

Also, have a look at this article – NPV vs IRR

#5 – XNPV: Financial Function in Excel 

This financial function is similar to the NPV with a twist. Here the payment and
income are not periodic. Rather specific dates are mentioned for each payment
and income. Here’s how we will calculate it –

XNPV = (Rate, Values, Dates) x

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Rate = Discount
Videos in Excel,rate
VBAfor &
a period
More
Values = Positive
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Dates = Specific dates (an array of dates)
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XNPV Example
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Here is a series of data from which we need to find NPV –


Details In US $ Dates

Rate of Discount 5%  
Get FREE Access to 500+ Video Tutorials
Subscribe
Initial to Youtube Now!-1000
Investment 1st December 2011

Return from 1st year 300 1st January 2012

Return from 2nd year 400 1st February 2013

Return from 3rd year 400 1st March 2014

Return from 4th year 300 1st April 2015

Solution: In excel, we will do as follows –

x
=XNPV (5%, B2:B6, C2:C6)
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= US$289.90
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#6 – PMT: Financial Function in Excel 
Youtube Channel

In excel, PMT denotes57.7K

the subscribers
periodical payment required to pay off for a
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particular period of timeour
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Let’s
 have a look at how
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to calculate it in excel –


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PMT = (Rate, Nper, PV, [FV], [Type])

Rate = It is the interest rate/period

Nper = Number of periods

PV = Present Value

[FV] = An optional argument which is about the future value of a loan (if
nothing is mentioned, FV is considered as “0”)

[Type] = When the payment is made (if nothing is mentioned, it’s assumed
that the payment has been made at the end of the period)

PMT Example

The US $1000 needs to be paid in full in 3 years. The interest rate is 10% p.a.
and the payment needs to be done yearly. Find out the PMT.

Solution: In excel, we will calculate it in the following manner –

x
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Youtube Channel

57.7K subscribers
= PMT
Cookies (10%,
help 3, 1000)
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= – 402.11

#7 – PPMT: Financial Function in Excel 
It is anotherGet
version
FREEof Access
PMT. Theto
only difference
500+ Video is Tutorials
this – PPMT calculates
payment onSubscribe
principal with a constant interest rate and constant periodic
to Youtube Now!
payments. Here’s how to calculate PPMT –

PPMT = (Rate, Per, Nper, PV, [FV], [Type])

Rate = It is the interest rate/period

Per = The period for which the principal is to be calculated

Nper = Number of periods

PV = Present Value

[FV] = An optional argument which is about the future value of a loan (if
nothing is mentioned, FV is considered as “0”)

[Type] = When the payment is made (if nothing is mentioned, it’s assumed
that the payment has been made at the end of the period)

PPMT Example
x
TheGet
US Free
$1000Access
needs to to
be 500+
paid in full in 3 years. The interest rate is 10% p.a.
Videos
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the payment needsVBA
to be&done
Moreyearly. Find out the PPMT in the first year
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second year.
Youtube Channel
Solution: In excel, we will calculate it in the following manner –
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=PPMT (10%, 1, 3, 1000)

= US $-302.11 

2nd year,

=PPMT (10%, 2, 3, 1000)

= US $-332.33

#8 – Internal Rate of Return

x (IRR): Financial
Function in Excel 
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To Subscribe
understandtowhether any new project or investment is profitable or not, the
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firm uses IRR.
Youtube If IRR is more than the hurdle rate (acceptable rate/ average
Channel
cost of capital), then it’s profitable for the firm and vice-versa. Let’s have a look,
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how we find out IRR in excel –
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IRR = (Values, [Guess])
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Values = Positive or negative cash flows (an array of values)

[Guess] = An assumption of what you think IRR should be

IRR Example

Here is a series of data from which we need to find IRR –

Details In US $

Initial Investment -1000

Return from 1st year 300

Return from 2nd year 400

Return from 3rd year 400

Return from 4th year 300

Find out IRR.

x
Solution: Here’s how we will calculate IRR in excel –
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= IRR (A2:A6, 0.1)

= 15%

#9 – Modified Internal Rate of Return

(MIRR): Financial Function in Excel 
The Modified Internal Rate of Return is one step ahead of the Internal Rate of
Return. MIRR signifies that the investment is profitable and is used in business.
MIRR is calculated by assuming NPV as zero. Here’s how to calculate
MIRR in excel –

MIRR = (Values, Finance rate, Reinvestment rate)

x
Values
Get Free= Access
Positive orto
negative
500+ cash flows (an array of values)
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Finance rate = Interest rate paid for the money used in cash flows
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Reinvestment
Youtube Channelrate = Interest rate paid for reinvestment of cash flows

MIRR Example 57.7K subscribers

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Here is a series of data from
our usewhich we(Privacy
of cookies need to find
MIRR
Policy)  –
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Details In US $

Initial Investment -1000

Return from 1st year 300

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nd
Return
Subscribe to from 2 year
Youtube Now! 400

Return from 3rd year 400

Return from 4th year 300

Finance rate = 12%; Reinvestment rate = 10%. Find out IRR.

Solution: Let’s look at the calculation of MIRR –

= MIRR (B2:B6, 12%, 10%)

= 13%

x
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#10 – XIRR:
Subscribe Financial Function in Excel 
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Here we need to find out IRR, which has specific dates of cash flow. That’s the
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only difference between IRR and XIRR. Have a look at how to calculate
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Get FREE
XIRR = (Values, Dates,Access
[Guess])to 500+ Video Tutorials
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Values = Positive or negative cash flows (an array of values)

Dates = Specific dates (an array of dates)

[Guess] = An assumption of what you think IRR should be

XIRR Example

Here is a series of data from which we need to find XIRR –

Details In US $ Dates

Initial Investment -1000 1st December 2011

Return from 1st year 300 1st January 2012

Return from 2nd year 400 1st February 2013

Return from 3rd year 400 1st March 2014

Return from 4th year 300 1st April 2015

x
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Solution: Let’sAccess to 500+
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= XIRR (B2:B6, C2:C6, 0.1)

= 24%

#11 – NPER: Financial Function in Excel 

It is simply the number of periods one requires to pay off the loan. Let’s see
how we can calculate NPER in excel –

NPER = (Rate, PMT, PV, [FV], [Type])

Rate = It is the interest rate/period

PMT = Amount paid per period x

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PV = Present Value
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[FV] = Anto
Subscribe optional argument which is about the future value of a loan (if
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nothingChannel
is mentioned, FV is considered as “0”)

[Type] = When the payment

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NPER Example

US $200 is paid per year for a loan of US $1000. The interest rate is 10% p.a.
and the payment needs to be done yearly. Find out the NPER.
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Solution: We need to calculate NPER in the following manner –
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= NPER (10%, -200, 1000)

= 7.27 years

#12 – RATE: Financial Function in Excel 

Through the RATE function in excel, we can calculate the interest rate needed
to pay off the loan in full for a given period of time. Let’s have a look at how to
calculate RATE financial function in excel –

x
Get=Free
RATE Access
(NPER, to [FV],
PMT, PV, 500+[Type], [Guess])
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Nper = Number
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PMT = Amount paid per period

PV = Present Value
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[FV] = An optional argument which is about the future value of a loan (if

nothing is mentioned, FV is considered as “0”)

[Type] = When the payment is made (if nothing is mentioned, it’s assumed
that the payment has been made at the end of the period)
Get FREE Access to 500+ Video Tutorials
[Guess]Subscribe
= An assumption of what
to Youtube Now!you think RATE should be

RATE Example

US $200 is paid per year for a loan of US $1000 for 6 years, and the payment
needs to be done yearly. Find out the RATE.

Solution:

= RATE (6, -200, 1000, 0.1)

= 5%

#13 – EFFECT: Financial Function in Excel 

Through the EFFECT function, we can understand the effective annual interest
x
rate. When we have the nominal interest rate and the number of compounding
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& More
to Subscribe
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EFFECT = (Nominal_Rate, NPERY)


Nominal_Rate = Nominal Interest Rate

NPERY = Number of compounding per year

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EFFECT Example
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Payment needs to be paid with a nominal interest rate of 12% when the
number of compounding per year is 12.

Solution:

= EFFECT (12%, 12)

= 12.68%

#14 – NOMINAL: Financial Function in Excel 

When we have an effective annual rate and the number of compounding
periods per year, we can calculate the NOMINAL rate for the year. Let’s have a
look at how to do it in excel –
x
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NOMINAL = (Effect_Rate, NPERY)
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Effect_Rate = Effective annual interest rate


NPERY = Number of compounding per year

NOMINAL Example
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Payment needs to be paid
Subscribe with an effective
to Youtube Now! interest rate or annual equivalent
rate of 12% when the number of compounding per year is 12.

Solution:

= NOMINAL (12%, 12)

= 11.39%

#15 – SLN: Financial Function in Excel 

Through the SLN function, we can calculate depreciation via a straight-line
method. In excel, we will look at SLN financial function as follows –

x
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SLN to Wallstreetmojo
= (Cost, Salvage, Life)
Youtube Channel
Cost = Cost of an asset when bought (initial amount)
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Life = Number of periods over which the asset is being depreciated


SLN Example

The initial cost of machinery is US $5000. It has been

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depreciated in the Straight Line Method. The machinery was used for 10
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years, and now the salvage value of the machinery is the US $300. Find
depreciation charged per year.

Solution:

= SLN (5000, 300, 10)

= US $470 per year

You may also look at Depreciation Complete Guide

Top 15 Financial Functions in Excel Video

 

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Recommended Articles
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PMT Formula in Excel

Covariance Matrix in Excel

NPER Function in Excel

Running Total in Excel

Comments

1. Jasbir says x
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We don’t learn everything in college or in an Institute.
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2. saumya says
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3. arun says 

very helpful, thanks for putting all these in one place

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4. JithmiSubscribe
Samodya says
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Perfect note.we can easily understand this functions by ourselves. Thankyou.

Dheeraj Vaidya says

Thanks for your kind words!

5. Raj says

Thanks Dheeraj.

It’s a great read and very helpful.

Dheeraj Vaidya says

Thanks Raj!

6. Monika says

Thanks Mr Dheeraj x
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Dheeraj Vaidya says
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thanks Monika!

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1/10/22, 9:19 AM Top 15 Financial Functions in Excel | WallStreetMojo

Thanks Dheeraj, a good mix of details and keeping the oversight.



Dheeraj Vaidya says

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8. Priyank says

Hi dear you are doing good job making people financially literate. Would you
please explain how to handle qtrly/monthly payouts while calculating FV/PV

Dheeraj Vaidya says

Hi Priyank,

If you make monthly payments on a three-year loan at 12 percent annual

interest, use 12%/12 for rate and 3*12 for nper. If you make annual payments
on the same loan, use 12% for rate and 3 for nper.

Hope this clarifies the same.

9. Mveleli says

Dear Dheeraj Vaidya

Thanks a great deal for all you assistance herein

x and appreciate all the
knowledge
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thanks Mveleli, Glad you liked this site.

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0 Rubel Fernando says
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1/10/22, 9:19 AM Top 15 Financial Functions in Excel | WallStreetMojo
0. Rubel Fernando says

This blog is really awesome, the list of financial functions in excels which you
have mentioned has helped me a lot and were very useful for me in practical
situations. Thank you so much for sharing this blog.
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Dheeraj Vaidya says

thanks Rubel!

x
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