Look Who it Was Random video

Excel In Depth - Goal Seek: Episode 1243

472 views · Published 13 September 2010 · 1:59 · Indexed 1 October 2026

Channel: MrExcel.com · 2010 · Education

Watch on YouTube

Microsoft Excel Tutorial: Excel In Depth: Mastering Goal Seek for Complex Problem Solving in Excel.

Welcome back to the MrExcel netcast! In this episode, we're diving into chapter 26 of the Excel in Depth book and discussing some powerful "what if" tools. Specifically, we'll be taking a closer look at Goal Seek and how it can help you solve complex problems in Excel.

In this example, we have a simple model where we want to determine the price of a car based on a 60-month payment plan and a 5.25% interest rate. However, our budget can only handle a monthly payment of $425. Instead of manually guessing and checking different prices, we can use Goal Seek to quickly find the right input value that will lead to our desired output.

To access Goal Seek, go to the Data tab and click on the "What If" drop down menu. Then, select "Goal Seek" and a dialog box will appear. Here, we want to set cell B5 to $425 by changing cell B1. This means that we want to find the value in cell B1 that will result in a monthly payment of $425. When we click "OK", Excel will start honing in on the right value and in less than a second, it will give us the answer - $22,384.93.

What's great about Goal Seek is that it doesn't change the formula or the model in any way. We can still continue to use the model for further "what if" analysis. This tool is a game changer when it comes to solving complex problems in Excel and it's definitely worth exploring further. Thanks for tuning in to this episode of the MrExcel netcast and we'll see you next time for more Excel tips and tricks!

Buy Bill Jelen's latest Excel book: https://www.mrexcel.com/products/latest/

You can help my channel by clicking Like or commenting below: https://www.mrexcel.com/like-mrexcel-on-youtube/


Table of Contents:
(00:00) Goal Seek Tool
(00:10) Explanation of Model
(00:20) Using the PMT Function
(00:30) Introduction to Goal Seek
(00:55) How Goal Seek Works
(01:19) Results of Goal Seek
(01:29) Accepting the Result
(01:39) Maintaining the Model
(01:49) Clicking Like really helps the algorithm

#excel #microsoft #microsoftexcel #exceltutorial #exceltips #exceltricks #excelmvp #freeclass #freecourse #freeclasses #excelclasses #microsoftmvp #walkthrough #evergreen #spreadsheetskills #analytics #analysis #dataanalysis #dataanalytics #mrexcel #spreadsheets #spreadsheet #excelhelp #accounting #tutorial


This video answers these common search terms:
Budget of $425
Data tab
Excel in Depth, chapter 26
Finding the price of a car
Formula remains unchanged
Goal Seek
PMT function
Setting cell B5 to $425 by changing cell B1
Using brute force
Value of 22384.93
What If analysis


Join the MrExcel Message Board discussion about this video at https://www.mrexcel.com/board/threads/1152924/


Suppose you have a model set up to perform a calculation. Using that calculation, you need to figure out how to adjust one input value to get to a certain answer - your goal. The Goal Seek command can simplify this process. "Excel In Depth" - MrExcel

More from this channel