Financial application: investment amount. Suppose you want to deposit a certain amount of money into a savings account with a fixed annual interest rate. We are interested in calculating the amount needed to deposit in order to have, for instance, $5000 in the account after three years. The initial deposit amount can be obtained using the following formula: finalAccountValue initialDepositAmount (1 + monthlylnterestRate)number0fMonths

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Max Function

Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.

Power Function

A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as: