Question: You are using the PMT function to determine a monthly payment amount. Why is the interest rate divided by 1 2 ? Why is the

You are using the PMT function to determine a monthly payment amount. Why is the interest rate divided by 12? Why is the number of years multiplied by 12?(2 questions asked here: DON'T GIVE ME THE DEFINITION OF THE PMT FUNCTION. If you do, you are not answering the questions I am asking.)
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Explain how the IF function allows for decision making? DON'T GIVE ME THE DEFINITION OF THE IF FUNCTION. If you do, you are not answering the question I am asking
In order to answer this question, please refer to your PowerPoint notes from class regarding Excel and also refer to the instructional readings that comprised your tutorial.
When you want to use the VLOOKUP function, you need to set up a lookup column (in the table that you have made).
a) How must the items in the lookup column be arranged if they are numbers?
b) How must the items in the lookup column be arranged if they are words?
c) Why are the columns set up this way?
 You are using the PMT function to determine a monthly payment

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