As is becoming clear, Excel is a powerful tool with far-reaching capabilities. The financial functions appear to be useful not only for business professionals, but for individuals trying to calculate and consider their personal financial situation and options.
A few particularly useful functions are:
1) Figuring out how long it would take to pay off a by using the NPER function. In this case, we used it to calculate the number of payments using regular, identical payment amounts and an unchanging interest rate.
2) Figuring out how much you need to save each month in order to be able to afford future expenses or luxuries by using the PMT function.
3) It also is important to be able to figure out how much savings will amount to, using the FV Function.
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