Why Is Excel an Efficient Tool to Use for Calculation

question 37

Multiple Choice

Why is Excel an efficient tool to use for calculation intensive applications such as creating an amortization schedule for a mortgage?

• A) Formulas can be entered once and quickly copied to multiple cells.
• B) Once a spreadsheet is created it can be used as a template for different loan amounts.
• C) A large number of cells can be formatted at once for easy readability.
• D) All of the above

---

Definitions:

Mirror Image Rule

The mirror image rule is a principle in contract law that requires an acceptance to be on exactly the same terms as the offer in order to result in a binding contract.

Statute of Frauds

A rule of law mandating that some contract varieties must be documented and signed by the involved parties to be legally binding.

Writing Requirement

A legal stipulation that certain contracts or agreements must be in writing to be enforceable.

Merchants

People or companies involved in buying and selling products, services, or commodities to make profits.