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In Excel for Mac 2011: On the Data tab, in the Data Tools group, click What-If Analysis, and then click Goal Seek. In Excel 2016 for Mac: On the Data tab, click What-If Analysis, and then click Goal Seek. For more information, see Define and solve a problem by using Solver. If you want to accept more than one input value, for example, both the loan amount and the monthly payment amount for a loan, use the Solver add-in. Note: Goal Seek works only with one variable input value. In the example, this reference is cell B3. In the By changing cell box, enter the reference for the cell that contains the value that you want to adjust. Note that this number is negative because it represents a payment. In the To value box, type the formula result that you want. In the example, this reference is cell B4. In the Set cell box, enter the reference for the cell that contains the formula that you want to resolve. On the Data tab, in the Data Tools group, click What-If Analysis, and then click Goal Seek. Use Goal Seek to determine the interest rate The formula divides the value in B3 by 12 because you specified a monthly payment, and the PMT function assumes an annual interest rate.īecause there is no value in cell B3, Excel assumes a 0% interest rate and, using the values in the example, returns a payment of $555.56.
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The formula also refers to cell B3, which is where you will specify that Goal Seek put the interest rate. The formula refers to cells B1 and B2, which contain values that you specified in preceding steps. You don't enter that amount here, because you want to use Goal Seek to determine the interest rate, and Goal Seek requires that you start with a formula. In this example, you want to pay $900 each month. This formula calculates the payment amount. Next, add the formula for which you have a goal. Instead, you add the formula to the worksheet and specify the payment value at a later step, when you use Goal Seek. Note: Although you know the payment amount that you want, you do not enter it as a value, because the payment amount is a result of the formula. This is the number of months that you want to pay off the loan. This is the amount that you want to borrow. Prepare the worksheetįirst, add some labels in the first column to make it easier to read the worksheet.
How to use goal seek excel 2013 Pc#
In this example, the monthly payment amount is the goal that you seek. Steps to Use Goal Seek Excel: Put the cursor on the cell that contains the output you want to change (revenue) On the Data ribbon, select What-if-analysis, then select Goal Seek ( keyboard shortcut Excel Shortcuts PC Mac Excel Shortcuts - List of the most important & common MS Excel shortcuts for PC & Mac users, finance, accounting professions. The PMT function calculates a monthly payment amount. Let's look at the preceding example, step-by-step.īecause you want to calculate the loan interest rate needed to meet your goal, you use the PMT function. If you want to accept more than one input value for example, both the loan amount and the monthly payment amount for a loan, you use the Solver add-in.