# Excel 2003

The functions below are available Excel 2003 and later versions, including Excel 365.

The Excel MINVERSE function returns the inverse matrix of a given array. The input array must contain numbers only and be a square matrix, with equal rows and columns. The result is an inverse matrix with the same dimensions as the array provided...

The Excel MIRR function is a financial function that returns the modified internal rate of return (MIRR) for a series of cash flows, taking into account both discount rate and reinvestment rate for future cash flows.

The Excel MMULT function returns the matrix product of two arrays. The result from MMULT is an array that contains the same number of rows as *array1* and the same number of columns as *array2*.

The Excel MOD function returns the remainder of two numbers after division. For example, MOD(10,3) = 1. The result of MOD carries the same sign as the divisor.

The Excel MODE function returns the most frequently occurring number in a numeric data set. For example, =MODE(1,2,4,4,5,5,5,6) returns 5.

The Excel MONTH function extracts the month from a given date as number between 1 to 12. You can use the MONTH function to extract a month number from a date into a cell, or to feed a month number into another function like the...

The Excel MROUND function returns a number rounded to a given multiple. MROUND will round a number up or down, depending on the nearest multiple.

The Excel N function returns a number when given a value. The N function can be used to convert TRUE and FALSE to 1 and 0 respectively. When given a text value, the N function returns zero.

The Excel NA function returns the #N/A error. #N/A means "not available" or "no value available". You can use the NA function to display the #N/A error when information is missing.

The Excel NETWORKDAYS function calculates the number of working days between two dates. NETWORKDAYS automatically excludes weekends (Saturday and Sunday) and can *optionally* exclude a list of holidays supplied as dates.

The Excel NOMINAL function returns the nominal interest rate when given an effective annual interest rate and the number of compounding periods per year. The effective rate is the actual rate due to compounding. The nominal rate is typically the...

The Excel NOT function returns the opposite of a given logical or Boolean value. When given TRUE, NOT returns FALSE. When given FALSE, NOT returns TRUE. Use the NOT function to reverse a logical value.

The Excel NOW function returns the current date and time, updated continuously when a worksheet is changed or opened. The NOW function takes no arguments. You can format the value returned by NOW as a date, or as a date with time by applying a...

The Excel NPV function is a financial function that calculates the net present value (NPV) of an investment using a discount rate and a series of future cash flows.

The Excel ODD function returns the next odd integer after rounding a given number up. The ODD function always rounds numbers away from zero, so positive numbers become larger and negative numbers become smaller (i.e. more negative).

The Excel ODDFYIELD function returns the yield of a security with an odd (irregular) first period.

The Excel ODDLPRICE function returns the price per $100 face value of a security with an odd (irregular) last period.

The Excel ODDLYIELD function returns the yield of a security with an odd (irregular) last period.

The Excel OFFSET function returns a reference to a range constructed with five inputs: (1) a starting point, (2) a row offset, (3) a column offset, (4) a height in rows, (5) a width in columns. OFFSET is handy in formulas that require a dynamic...

The OR function is a logical function to test multiple conditions at the same time. OR returns either TRUE or FALSE. For example, to test A1 for either "x" or "y", use =OR(A1="x",A1="y"). The OR function can be used as the logical test inside the...

The Excel PERCENTILE function calculates the "kth percentile" for a set of data. A percentile is a value below which a given percentage of values in a data set fall. You can use PERCENTILE to determine the 90th percentile, the 80th percentile,...

The Excel PERCENTRANK function returns the rank of a value in a data set as a percentage of the data set. You can use PERCENTRANK to find the relative standing of a value within a data set. Percentile rank is commonly used as a way to interpret...

The Excel PERMUT function returns the number of permutations (combinations where order is significant) for a given number of items. The PERMUT function *does not* allow repetitions. To allow permutations with repetitions, use the...

The Excel PI function returns the value of the geometric constant π (pi). The value represents a half-rotation in the radian angle system. The constant appears in many formulas relating the circle, such as the area of a circle.

The Excel POWER function returns a number raised to a given power. The POWER function is an alternative to the exponent operator (^).

The Excel PPMT function can be used to calculate the principal portion of a given loan payment. For example, you can use PPMT to get the principal amount of a payment for the first period, the last period, or any period in between.