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.

What is the significance of the present value (PV) in the PMT function?

Describe the process of using Goal Seek to determine how much more money can be borrowed.

What was the final amount that could be borrowed if the monthly payment was set to £500?