Goal Seek Excel How to use
If you know the result you want from a formula you can use GOAL SEEK to find the input value that will get to your answer.
There are so many ways to use goal seek but let’s use the formula from my mortgage payment video
We had used =pmt to see how much a mortgage monthly payment would be based on a 2% interest rate, over 25 years when owing £200,000.
What if instead we wanted to see how much we could loan if we could afford a monthly mortgage payment of £1500?
We could play around with the owing amount until we got our answer
Or we can use goal seek to instantly get our answer
Click on monthly payment cell
Go to What IF Analysis – click goal seek
Change ‘To Value’ to £1500
‘By changing Cell’ C6 – Loan Value
Click OK
Goal seek has worked out the exact loan amount with a monthly payment value of £1500