- #GOAL SEEK ON EXCEL FOR MAC FOR MAC#
- #GOAL SEEK ON EXCEL FOR MAC PDF#
- #GOAL SEEK ON EXCEL FOR MAC SERIES#
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#GOAL SEEK ON EXCEL FOR MAC SERIES#
The Up To Speed series is designed to help you get productive quickly with your software.
#GOAL SEEK ON EXCEL FOR MAC PDF#
Looking for more Excel tips? Our Excel 2016: Up To Speed guide is now available in printable PDF format from this site. In the By changing cell box, enter the cell reference of the cell that contains the value you want to adjust.In the To Value box, type in the value to which you want to change the cell.In the Set Cell Box, type the cell reference of the cell that contains the formula you want to change.Click the What-if Analysis button on the Data Tools group of the Ribbon and click Goal Seek from the menu.In the example above, this would be the price of the home. The cell you want to change to achieve the target amount. In the example above, this would be $800.ģ. The value to which you want to change the target cell. In the example above, this would be the loan amount.Ģ. You must provide three parameters for Goal Seek:ġ. With Goal Seek, you could determine the maximum home purchase price that you could afford. Suppose you want to obtain a home loan but can only afford $800 a month.
#GOAL SEEK ON EXCEL FOR MAC FOR MAC#
In Excel for Mac 2011: On the Data tab, in the Data Tools group, click What-If Analysis, and then click Goal Seek.Goal Seek allows you to resolve a problem when you know the target result by changing a value in a specific cell that directly affects the formula. 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 Excel for Mac 2011: On the Data tab, in the Data Tools group, click What-If Analysis, and then click Goal Seek. In the example, this reference is cell B3. In Excel 2016 for Mac: On the Data tab, click What-If Analysis, and then click Goal Seek. 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. 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. Use Goal Seek to determine the interest rate. 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.
![goal seek on excel for mac goal seek on excel for mac](https://www.lifewire.com/thmb/IUPKGjFRbt3kMe3dEh3sG-FIlsE=/1366x734/filters:no_upscale():max_bytes(150000):strip_icc()/using-goal-seek-r-5c0033fcc9e77c0001351442.jpg)
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. In this example, the monthly payment amount is the goal that you seek.
![goal seek on excel for mac goal seek on excel for mac](https://www.add-ins.com/images/screenshots/goal-seek/goal-seek-01.png)
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.