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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...
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.
So, sir is this correct solution which i got 7953 in Term of Month?
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.
- So, what should i do to calculate Term of Month?
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.