Excel has a lot of functions which make your life easier. One such feature is Goal Seek. It can be used to help you speed up your calculations. Goal Seek is part of a suite of commands sometimes called what-if analysis tools. When you know the desired result of a single formula but not the input value of the formula needed to determine the result, you can use the Goal Seek feature. When goal seeking, Microsoft Excel varies the value in one specific cell until a formula that’s dependent on that cell returns the result you want.

Goal Seek is Excel's built-in What-If Analysis tool that shows how one value in a formula impacts another. More precisely, it determines what value you should enter in an input cell to get the desired result in a formula cell. In Excel 2016 for Mac: On the Data tab, click What-If Analysis, and then click Goal Seek. In Excel for Mac 2011: On the Data tab, in the Data Tools group, click What-If Analysis, and then click Goal Seek. In the Set cell box, enter the reference for the cell that contains the formula that you want to resolve.

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I am explaining it by taking an example, Say, You’ve got a fixed amount of your monthly salary that can go towards your loan payment and are now wondering which interest rate will best suit you. Here is how you can solve it using Goal Seek. STEP 1: Create a table The use of estimate amounts for calculations will result in an inaccurate result. Hence, the first step to answer a loan-related query is to get accurate values for all the factors revolving around the loan scheme. Before initiating the goal seek feature, enter these values into a new worksheet. Loops fl studio 12 free. You see that a monthly payment of “1,014.27” is calculated The PMT function calculates monthly payments based on the loan amount, interest rate, and length of time it will take to pay back the money.

The syntax for the PMT function is PMT (interest rate per period, number of payments, and loan amount ) STEP 3: Use the Goal Seek tool Goal Seek can be used when you know the result of a formula but not the input value required by the formula to decide the resulting reverse calculation. You can change the value of a specified cell until the formula that is dependent on the changed cell returns the result you want.