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ADVANCED MICROSOFT EXCEL
Our renowned Excel Advanced TWO-DAY Course, which
includes Micro softadvanced excel courses,
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The Best Guide to Understanding Advanced Excel
Functions was last updated on October 17, 2022. The Best Guide to Understanding
Advanced Excel Functions Table of Contents What-If Analysis Using
SolverIf-ElseIf-ErrorPivotTablesView More The term “Advanced Excel Functions”
refers to the features and functions of Microsoft Excel that assist users in
carrying out intricate calculations, analyzing data, and a great deal more.
Learn about some of Excel’s most popular advanced functions in this article.
Goal Seek Goal Seek is a built-in function in Advanced
Excel Functions that lets you change the assumptions to get the desired output.
To achieve the desired outcome, the procedure relies on trial and error.
Explore Course Explore Course The Data Analytics Free
Course Let’s take a look at an example to get a better understanding of it.
Example: In this example, we want to figure out what
the interest rate would be if the person paid $5000 a month to pay off the
loan.
When you want to figure out how much you need to pay
each month to pay off the loan, you can use the PMT function.
Let’s break this problem down into steps to see how we
can figure out the interest rate that will pay off a $400,000 loan with a
$5,000 payment every month.
The PMT formula must now be entered in the adjacent
payment cell. Excel gives us a payment of $3,333.33 because it assumes that the
interest rate will never rise because there is currently no value in the rate
of interest cell. Neglect it.
GS1 Set the monthly payment to -5,000 by going to Data
> What-If Analysis > Goal Look for point number two. The negative value
is indicated by the amount of the deduction.
As the cell changes, set the interest rate.
GS2 Select “OK.” The goal-seek function will show you
the interest rate needed to pay the loan amount automatically.
GS3 Change the value to a percentage by going to Home
> Number.
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