Goal Seek to optimize the results of the =PMT() function

Here are the steps to follow in this video lesson:

1. Calculate your monthly payment on a loan using =PMT() function
2. =PMT() requires three arguments: “Interest Rate” / # of payments per year, “# of payments” over the course of your loan, the “Amount Borrowed.”
3. For Goal Seek: Select the cell that contains your formula and then choose Tools – Goal Seek.
4. In the “To Value:” box type in your GOAL – e.g. The amount that you want your =PMT() to return.
5. In the “By Changing Cell:” select a cell that is referenced in your =PMT() formula.

Find the video lesson that you want – Index to all Excel Video Lessons

“The 50 Best Tips for Excel 2007” DVD is now available to purchase. I invite you to visit my online bookstore for more details.