Question related to Goal Seek

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Regular Contributor

Hello Everyone,

I have tried Goal Seek. I write this formula - 

Screenshot (3712).png

 

Then i i have set in Term in Months in Goal Seek.

like - 

Screenshot (3713).png

 

After click in OK, it will give wrong answer in Term in Months

like -

Screenshot (3715).png

 

So, what should i do which it will give right answer in TERM IN MONTHS with the help of Goal Seek?

 

Please help..???

 

Here is a attach file...

 

13 Replies

@Zan_Hanifee 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?

@Zan_Hanifee 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?

@Zan_Hanifee 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.

@Zan_Hanifee 

 

Here is an example, you can expand as you like.

 

Can even open a bank:)))

 

I would be happy to know if I could help.

 

Nikolino

I know I don't know anything (Socrates)

@NikolinoDE 

Sir can you solve my problem??

 

Here is a attach file

Unfortunately, I can understand your project even less than Mr. Riny_van_Eekelen.
Maybe it's the translation, but what exactly do you want to achieve?
I sent you the example because it might fit into your project.

Thank you for your understanding and patience.
Ok sir...
Can you please explain me in details which you have given file? Please
In the cells where there are only numbers, you can change them. So you can see the values in the formulas and how they behave.

@Zan_Hanifee 

Perhaps this will help. Scroll down the worksheet and you'll see that as you increase the number of months further and further, the monthly payment more or less stops decreasing: it never gets below $1,466.67 (8% of $220,000 divided by 12).

So you will never reach a monthly payment of $1100 with this initial value and interest rate - not in 100 years, not in 1,000 years, not in 10,000 years: NEVER.

So, as all of us have pointed out several times now, there is no solution to your problem. Not because we don't want to tell you, but because it does not exist.

now i am understand the concept of Goal Seek. Thank you very very very much sir...
Thank you very much sir