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Iron Contributor

Jun 10, 2021

Solved

Question related to Goal Seek

Hello Everyone, I have tried Goal Seek. I write this formula - Then i i have set in Term in Months in Goal Seek. like - After click in OK, it will give wrong answer in Term in...

GoalSeek.xlsx16 KB

excel

Formulas and Functions

Riny_van_Eekelen
Jun 10, 2021
Excel I guess this is a pure mathematical issue. At 8% per year the minimum monthly payment (interest only) is 1466.67. Thus, you will never get anything lower than that. You will thus never get down to 1100, no matter how many periods.

Riny_van_Eekelen

Platinum Contributor

Jun 10, 2021

Excel I guess this is a pure mathematical issue. At 8% per year the minimum monthly payment (interest only) is 1466.67. Thus, you will never get anything lower than that. You will thus never get down to 1100, no matter how many periods.

Excel

Iron Contributor

Jun 10, 2021

So, sir is this correct solution which i got 7953 in Term of Month?

Riny_van_Eekelen
Platinum Contributor
Jun 10, 2021
Excel I guess not, because you can't get any lower that 1466.67. 100000 months will give you the same amount. My point was that you can never get down to 1100.
- Excel
  Iron Contributor
  Jun 10, 2021
  So, what should i do to calculate Term of Month?
  - Riny_van_Eekelen
    Platinum Contributor
    Jun 10, 2021
    Excel You've lost me. With the parameters you gave there is NO solution. You can NEVER reach $ 1100, no matter what term of months you use.