Excel Solver is a powerful method to solve optimization problem. If you have a complex problem which contains multiple equations and multiple constraints and you are asked to find the optimal solution, you should look for Excel's Solver Add-In instead of Goal Seek. As shown in the second case study, it takes time to transform equation of loan payment and calculate the terms without using Goal Seek. It saves a lot of time when it is difficult to derive a formula to calculate unknown value. Goal Seek is very helpful for quickly solving any financial and statistical formula for a single unknown value. Week 5 is OPTIONAL Those who complete the Week 5 assessments (Quiz 5 and. Solution : Goal Seek found the solution and it is required to pay 50 monthly payments when $4000 is paid monthly in installment. Video created by Universit du Colorado Boulder for the course 'Excel/VBA for Creative Problem Solving, Part 1'. In By changing cell:, give cell reference of C4 ( Refer figure 2).Make sure it is negative since it is a payment. In Set cell:, enter reference of cell C6.Go to Data tab and then click on What-If Analysis and select Goal Seek.Since C5 is annual interest rate, we need to divide it by 12 Enter formula =PMT(C5/12,C4,C3) in cell C6 (Refer the image above).
of Payments (Monthly) and Annual Interest Rate from cell C3 through C5.
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