The IF Function

question 68

Multiple Choice

The IF function:

• A)contains data for the basis of the lookup and data to be retrieved.
• B)looks up a value and returns a related result from a lookup table.
• C)evaluates a condition and returns one value if the condition is true,a different if false.
• D)contains another function embedded inside one or more of its arguments.

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Definitions:

RRSP

Registered Retirement Savings Plan, a Canadian account for holding savings and investment assets, aimed at retirement planning with tax benefits.

Compounded Monthly

Interest calculation method where interest is added to the principal every month, affecting the total interest earned or paid.

Interest Costs

The total cost incurred by borrowing funds, expressed as the interest rate multiplied by the principal over a given period.

Percentage Discount

A percentage discount refers to a reduction in price on goods or services based on a specified percentage of the original price.