What is goal seek in Excel? How to use goal seek in Excel?

2023-03-01 19:22:27

Goal Seek is a feature in Microsoft Excel that allows you to find the input value required to achieve a specific goal or target output value in a formula. It is a powerful tool that helps you to determine the input value that is required to achieve a desired result, based on a given set of assumptions or conditions.

For example, suppose you have a formula that calculates the monthly payment for a loan based on the loan amount, interest rate, and the loan term. You want to find out what interest rate you need to charge in order to achieve a monthly payment of $500. In this case, you can use the Goal Seek feature in Excel to determine the interest rate required to achieve the desired monthly payment of $500.

To use the Goal Seek feature in Excel, follow these steps:

Select the cell that contains the formula you want to adjust.
Go to the Data tab and click on the What-If Analysis button.
Choose Goal Seek from the dropdown list.
In the Goal Seek dialog box, enter the target value that you want to achieve in the Set Cell box.
In the By Changing Cell box, enter the cell reference that contains the value you want to adjust.
Click OK to run the Goal Seek calculation.

Excel will then calculate the input value required to achieve the desired output value based on the given assumptions or conditions.

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