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Topic 38: How to Use Goal Seek in Excel? (Real-Life Example Demnstrations) |
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Topic 38: How to Use Goal Seek in Excel? (Real-Life Example Demnstrations)
Goal Seek (Text) - An Example
Say you wish to purchase a car, your current vehicle is worth $4,000 in part exchange. This part exchange value plus your cash down payment of $1000 makes up the 20% deposit required towards the cost of the new car. A spreadsheet to show this is illustrated and shows that you can afford a new car costing $25,000. The only formula in the spreadsheet is in cell E4: =(E2+E3)*5 Suppose that you have seen a car costing $ 30,000 your question would likely be. What will my cash down payment now need to be? You could experiment by entering various values into the Down Payment cell or you could use Goal Seek.
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Goal Seek (Graphical) - An Example
If we suppose that you have seen a car costing $14,000 your question would likely be. What will my cash down payment now need to be?
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