Which function should be used to calculate the total value of current leases by multiplying monthly rents by the remaining months?

The function that should be used to calculate the total value of current leases by multiplying monthly rents by the remaining months is SUMPRODUCT. This function is specifically designed to handle arrays of numbers and perform corresponding multiplication before summing their results.

In this case, you would have two sets of data: one representing the monthly rents and the other representing the remaining months for those leases. Using SUMPRODUCT, you can multiply each monthly rent by its corresponding remaining months in a single step and then sum all those results to get the total value of the leases. This provides an efficient and straightforward solution for the problem posed.

The other options do not fit this requirement. For instance, AVERAGE computes the mean of data, while COUNTIF is used to count the number of cells that meet a certain criterion. SUMIF is utilized to sum values based on specified conditions but does not perform the multiplication needed for this particular calculation. Thus, SUMPRODUCT is the ideal choice in this scenario.