Excel questions

1. Why are named ranges useful? What limitations are there in creating the names in ranges? 2. Explain the difference between the TRUE and FALSE arguments for the VLOOKUP function. Give a business example of how you would use a VLOOKUP with a PMT function 3. Give a business example in which an IF function would be useful. How would using the AND or OR functions in the logical_test argument change the way the IF function works