the management can increase the salary by up to 5.57 %. go data and goal seek and set cell the total and to value to 55,000000 and the changing cell will be the rate. Let’s first find the sum of the new salary and use goal seek. In our case, that new value would be 67 as that’s needed to win the election. Speaker (01:26): Next, we have to tell Excel what value we should change our set cell to. The Goal Seek dialogue box opens with the Set cell pre-populated. How can we figure out this increased rate? From the dropdown menu, select Goal Seek. But it has a capacity to increase up to 55,000000. The sum of the total salary is around 53,000000. Here we have a list of salaries and a company become profitable to increase their salary by this percent. Go to data, and what-if analysis, and click goal seek, I want the payment value to change and to value to 500(that is my capacity to pay) and since I can’t change the interest, the changing cell will I5(the term). This case Goal seek will give great help. If we can’t afford to pay 840 every month and want to increase the term of payment, how can we adjust it. We want to borrow many and the condition is at 5.5 interest rate, with 60 months’ payoff, if we borrow 44,000 our monthly payment will be 840. We will do two exercises, here we have the PMT scenario. The goal seek helps to find the right input for the value we want. How To Use Goal Seek in Excel (Video transcript)
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