


Access
Expert
Level 30
Expert
Microsoft Access Tutorial  1 Hour, 44 Minutes 



Access Expert
30 is Part 6 of our Comprehensive Guide to Access Functions.
Today's class focuses on Financial Functions. Even if you are
not a financial professional, you will find the topics in today's
class of interest. Anyone who has a home mortgage or an auto
loan will benefit from these lessons. You will learn all of the
popular financial functions, how simple and compound interest work,
how to calculate a monthly loan payment, and lots more.
Topics include:


Financial Functions
 Simple v.
Compound Interest 
Loan Payment Calculator: PMT
 Find Future
Value of an Investment: FV  Calculate Return On
Investment: RATE  Years Until I'm a Millionaire: NPER 
How Much Home Can I Afford: PV  Saving For Kids
College Fund Calculator  Loan Amortization
Basics  Calculating Principal and Interest
Parts 
Order Now 
If you would like a preview of what's covered in this class,
click here to watch the first
and last lessons of
this course (free of charge), or scroll down for more information.

Access Expert Level 30 
Description: 
Access Expert Level 30 
Versions: 
Recorded with Access 2013.
Most of the material should work with all versions of Access.
The majority of the functions covered in today's class go all the way back to the
first versions of Access. 
PreRequisites: 
Access Expert Level
29 strongly recommended, as you should watch all of my
classes in order. However, if you're skipping around, you should
have at least completed the Beginner series and the first 3 or 4
levels of the Expert series where I start to cover functions. 
Running Time: 
1
Hour, 44 Minutes 
Cost: 
$26.99 


This is part 6 of the Comprehensive Guide to Access Functions.
We will be learning about the Financial Functions in today's class. Even
if you don't have a job in banking or finance, you will still get a lot
out of these lessons if you ever have to deal with money (and most of us
do). We'll start out with a brief overview of the Access financial
functions, what the various terms mean, and how interest is calculated
(simple v. compound). We'll talk about annual percentage rates.
Next we will build a Loan Calculator,
and learn how to calculate the monthly payment for a loan,
whether it's a 30year home mortgage, or a 5year auto loan. We will
learn about the PMT function, and how to use the amount of the
loan, the interest rate, and the number of years to determine the
monthly (or any frequency) payment amount. For example, a $100,000 loan
at 5% APR interest over 30 years gives you a monthly payment of about
$536.
We will build an Investment Calculator
so we can calculate the future value of an investment with the FV
function. If we know the initial amount of the investment, the interest
rate, and the number of years we're planning on investing, the FV
function can calculate the future value  the value the investment will
have at that point in the future. For example, you want to put $1000 in
a savings account earning 3% interest. What will be in your account in
10 years?
Next we'll create an Interest Rate
Calculator. This will allow us to figure out the ROI (Return on
Investment) for any of our endeavors using the RATE function. For
example, you invested $10,000 in a friend's business 3 years ago, and he
wants to buy you out for $15,000 now. That turns out to be a return of
about 14%, so it's a good deal.
Next is one of my favorites, the
Millionaire Calculator. This uses the NPER function to how
long it will take your investment to reach a particular value. For
example, you're planning for retirement and you figure you're
going to need $100,000 to retire comfortably. You know you can easily
set aside $1,000 each month in a savings account earning 5% interest.
the NPER function will tell you that it will take you about 7 years to
reach your goal. You can also use it to see how long it will take you to
become a millionaire, given how much you're able to save each month.
It's fun. Try it.
We will create an Initial Deposit
Calculator. This one is good for determining how much you need to
put away now to reach a specific goal in the future. This is great for
determining how much to save for your kids' college funds. For
example, let's say you know that you're going to need $50,000 to put
your kids through school, and they're going to start college in 15
years. Your bank has a bond you can buy at a 5.75% APR. So, you can use
the PV function to figure out that you need to invest $18,277 now
to have that $50,000 in 15 years. The PV function can also calculate the
value if there are extra monthly payments thrown in  so you could start
with $15,000 and then add in $250 per month if you want.
Next is the House Value Calculator.
This is a great calculator to use when you want to figure out how
expensive of a house (or car, or boat, or whatever) you can buy. You
know how much you can afford for your monthly mortgage payment. You know
you want a 30 year mortgage. You know the bank is offering you a 7% APR
interest rate. You can use the PV function to determine that you
can afford a house value of $300,615.
Finally, we're going to spend some time
learning the basics of Loan Amortization. We already know how to
use the PMT function to calculate the monthly payment for a loan.
With the IPMT and PPMT functions we can calculate how much
of that payment is going towards interest and principal,
respectively. We can see what the principal balance of our loan is going
to be after any point in the payment schedule. So, for example, after
paying off your home loan for 15 years, you can see what your "payoff
amount" would be. I have a separate
Loan
Amortization Seminar which goes into much more specific
examples, but this is a great introduction to the concept for
nonfinancial professionals.
This is the 30th class in the Access Expert series. This
is the 6th class in my Comprehensive Function Guide series. If you're
serious about building quality databases with Access, and you have any
interest AT ALL in financial functions, don't miss out on
this course. Of
course, if you have any questions about whether or not this class is
for you, please contact me.
Complete Outline  Access Expert Level
30
00. Intro (6:00)
01. Functions & Interest (9:08)
Access Financial Funtions Functions Covered Today: PV, FV
RATE, NPER PMT, PPMT, IPMT Functions NOT Covered: NPV,
DDB, IRR, MIRR SLN, SYD Simple v. Compound Interest Rates
APR Annual Percentage Rate
02. Loan Calculator (18:08)
Calculate Mortgage Payments PMT Function Amount of Loan
Number of Periods Interest Rate Monthly Payment Total
Amount Paid Total Interest Paid Rounding Issues Extra
Payment at End of Loan
03. Investment Calculator (7:37)
Calculate Future Value of Investment Amount of Investment
APR Annual Percentage Rate Number of Years to Invest Extra
Payments Future Value FV Function
04. Interest Rate Calculator (11:30)
What was my rate of return ROI Intial Investment Amount
Amount of Return Number of Years to Invest What was my
Interest Rate RATE Function Why sometimes divide by 12
Annual vs. Monthly Compounding 
05. Millionaire Calculator (9:30)
How
long until I'm a millionaire
Initial Deposit Amount
Monthly Payment Amount
Goal
Amount
Interest Rate
Calculate Number of Months
Convert to Whole Years
INT
Function
NPER
FUnction
06. Initial Deposit Calculator (7:06)
College fund calculator
How
much deposit to hit goal return
Current Balance Amount
Interest Rate
Years
to have account open
Extra
annual payments
PV
Function
07. House Value Calculator (5:55)
Monthly payment you can afford
Interest rate from bank
How
many years for your mortgage
Calculate house you can afford
PV
Function
08. Loan Amortization (22:47)
How
Amortization Works
Interest and Principal Portions
Build
LoanF Form
Create
AmortT Table for Periods
Build
AmortF Subform
Link
Child and Master Fields
Calculate Interest Paid
IPMT
Function
Calcaulte Principal Paid
PPMT
Function
Rounding Issues
IIF
Function to Hide Errors
09. Review (6:51) 


Keywords:
Comprehensive Function Guide, Financial Functions, microsoft access tutorial, microsoft access tutorial, microsoft access training, PV, FV, RATE, NPER, PMT, PPMT, IPMT, Interest Rate, Mortgage Calculator, Investment, ROI, Millionarie, Deposit 


Student Interaction:
Microsoft Access Expert 30
Richard on 8/2/2015:
Access Expert 30 is Part 6 of our Comprehensive Guide to Access Functions. Today's class focuses on Financial Functions. Even if you are not a financial professional, you will find the topics in today's class of interest. Anyone who has a home mortgage or an auto loan will benefit from these lessons. You will learn all of the popular financial functions, how simple and compound interest work, how to calculate a monthly loan payment, and lots more. Topics include:
 Financial Functions
 Simple v. Compound Interest
 Loan Payment Calculator: PMT
 Find Future Value of an Investment: FV
 Calculate Return On Investment: RATE
 Years Until I'm a Millionaire: NPER
 How Much Home Can I Afford: PV
 Saving For Kids College Fund Calculator
 Loan Amortization Basics
 Calculating Principal and Interest Parts
Click here for more information on Access Expert Level 30, including a course outline, sample videos, and more. This course was recorded using Access 2013, but most of the functions covered are valid for all versions of Access. This class follows Expert Level 29. The next class in the series is Expert Level 31.

Uriel R on 8/2/2015: Richard, I love your classes and how you teach, the only thing I can complaint about is the production schedule, class can't come fast enough. Hope at the end you teach how to build own functions!

Guillermo P on 9/10/2015: I am trying to find where to start the Lever 2 Access training and can not find it. Help?
Reply from Alex Hedley:
Guillermo what was the last course you took?
B2 or E2 Beginner Level 2 Expert Level 2

Rasulul Amin Murad on 9/23/2015: HI Brother Richard, Thanks for your initiative to teach us the msaccess. I know very little about this program. Recently i am trying to built a invoice for my small company but the local ppl is asking huge amount of payment. That's why i search over google to get tutorial to make a Invoicing and Quotation Billing Application for my company. There i hv found you today. I really impressed to show ur video. I still dnt have any idea tht i will able to complete or not but i must try on it. Sorry for huge writing.. Thanks for the tutorials.. Allah bless you.

John Newton on 10/13/2015: Hello, I have a question regarding adding records to a subform. I have completed course 130 and all beginner courses.
Ex; I have tables, queries, forms and subforms;
Main tables; DriverT with Fields like: DriverID, Fname, Lname, etc. CarT with field like: CarID, MakeIDFK, ModelIDFK, YearIDFK, CarName A junction table; CarXDriverT Supporting Tables; MakeT, ModelT, YearT
Queries; DriverXCarQ; with Fields: CarXDriverID, CarIDFK, DriverIDFK.
Forms: A main Form; CarF with the fields from the CarT and a subform; DriverXCarSubF The subform get data from; DriverXCarQ
I want to be able to add a new Driver to the DriverT in the form the main form in the subform.
Any Ideas? Is this in an upcoming course? A past course? Thanks it really kicking my butt.
Reply from Alex Hedley:
Have you read the outline for the Relationship Seminar?

Stephen Petersen on 12/30/2015: Can you provide a query example of how to use NPV. I am creating a database of potential capital projects, some of which have multiple years and I want to calculate the NVP of the capital cost and fuel ect when I have the staring values
Reply from Alex Hedley:
MS Article
Dim Fmt, Guess, RetRate, NetPVal, Msg Static Values(5) As Double ' Set up array. Fmt = "###,##0.00" ' Define money format. Guess = .1 ' Guess starts at 10 percent. RetRate = .0625 ' Set fixed internal rate. Values(0) = 70000 ' Business startup costs. ' Positive cash flows reflecting income ' for four successive years. Values(1) = 22000 : Values(2) = 25000 Values(3) = 28000 : Values(4) = 31000 ' Calculate net present value. NetPVal = NPV(RetRate, Values()) Msg = "The net present value " & _ "of these cash flows is " Msg = Msg & Format(NetPVal, Fmt) & "." ' Display net present value. MsgBox Msg

Stephen P on 12/30/2015: This is still confusing to me. What would the NPV calculation look like if the initial investment was 10,000 and increased by 2.25% over the next 5 years?
Reply from Alex Hedley:
It's been a few years since I did anything with NPV at uni, I'll need to refresh my memory. Have you calculated the PV for each year?

Stephen Petersen on 1/26/2016: How do I calculate NPV in a query? I have been calculating FV of year1, then year2, then year3 etc and than adding up the values. However, if the number of years is a variable, then it doesn't work.

Thomas Szypulinski on 2/25/2016: Hello Mr. Rost, I like to begin with congratulating you on the great learning software and hope that it will continue to grow and cover many great subjects. English is my second language and with that I find your classes very user friendly and understandable. I have 2 questions that I couldn't find answers for on my own: 1. how can I download final full copy of the database you build in all beginner and expert classes? 2. do you have advanced classes ready for purchase?
Reply from Alex Hedley:
Student databases Advanced Courses These are using 2003 but the principles and most of the code translates, just won't look the same




You may want to read these articles from the 599CD News: 


