DOLLARFR Excel Formula

Author Zaheer    Category Formulas     Tags ,

Excel is commonly used for computation purposes. With this, Excel offers built-in Financial Functions which can you do easy and cut-short financial calculations. These functions can calculate interest rates, payments, assets, and other related calculations.

One if the Financial Function that Excel has is the Dollarfr Function which converts to a decimal notation and then to a fractional notation. The syntax or the series of argument of this function is DOLLARFR (decimal_dollar, fraction).

The argument decimal_dollar is represented as a decimal number. It could also be the dollar value which is in decimal form. The fraction in the syntax is represents the value or number as the denominator.

If in using the Dollarfr function an error of #NAME? occurs this means that your Analysis ToolPak is not yet enabled. To enable this, in Excel 2003 select the Tools on the menu bar and hit on the Add-Ins. The Add-Ins dialogue box will appear and from it select the Analysis ToolPak and hit OK.

For Excel 2007 and 2010 hit the Excel Options button in the spreadsheet. On the drop-down list select the Add-Ins. The Manage box will appear and on the list select the Excel Add-Ins and hit Go. The Add-Ins window will appear and on it select the Analysis ToolPak option and hit OK.

Another common error would be the #NUM! error. This occurs if the given fraction argument is less than zero. An error of #DIV/0! Will also occur if the given fraction argument is equal to zero. Also, take heed that the fraction argument must be an integer and if it is in decimal for it will be automatically changed to an integer.

Try the function by opening first an Excel spreadsheet. On cell A1 input the function =DOLLARFR (1.625, 16) the result would be $1.6250000000000000. Another example would be in cell A2 input the function =DOLARFR(1.375, 32) which will result to $1.3750000000000000.

To view the results and to view the formulas back you can press Ctrl+` (grave accent). You can also click on the Formulas tab and in the Formula Auditing group hit the Show Formula button.

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