Microsoft Excel 2021365 - Beginner to Advanced - Goal Seek and the PMT Function

The video tutorial introduces Excel's What If Analysis tools, focusing on Goal Seek. It explains how Goal Seek works by using a loan payment example, demonstrating the PMT function to calculate monthly payments. The tutorial shows how to adjust loan parameters using Goal Seek, allowing users to determine how much more they can borrow or reduce the loan term by setting a target monthly payment.

Which of the following is NOT a What-If Analysis tool in Excel?

• Data Tables

• Solver

• Goal Seek

• Scenario Manager

What is the primary function of Goal Seek in Excel?

• To calculate loan payments

• To analyze data trends

• To find the right input for a desired output

• To create multiple scenarios

What does the PMT function in Excel calculate?

• Total loan amount

• Interest rate

• Monthly loan payments

• Loan term

Which argument in the PMT function represents the number of payment periods?

• FV

• PV

• Nper

• Rate

How can you adjust the PMT function to show a positive payment value?

• Add a plus sign before the formula

• Divide the result by 12

• Multiply the result by -1

• Place a minus sign before the loan amount

What can Goal Seek help you determine if you can afford a higher monthly payment?

• The original loan amount

• The total interest paid

• How much more you can borrow

• The new interest rate

In the context of Goal Seek, what does setting a cell to a specific value help you achieve?

• It finds the necessary input to reach that value

• It adjusts the interest rate

• It changes the formula used

• It calculates the total loan amount