Solvella

Mini guide 4 steps · 2 min

Goal Seek: work backwards from the answer

You know the result you want, but not the input that gets you there. Example: you can afford $2,100 a month. What's the highest interest rate that keeps a $350,000, 30-year loan within budget?

Follow alongThe home loan sheet used in this guide.
Excel (.xlsx)CSV

  1. Open Goal Seek

    Click ExtensionsSolvellaGoal Seek.... The Goal Seek panel opens on the right of your sheet.

    The Extensions menu open with Solvella highlighted, and Solvella's submenu showing Goal Seek, Solver, Data Analysis, Account & upgrade and Help
    1 Extensions, 2 Solvella, 3 pick a tool.Enlarge

  2. Find your three cells

    • 1 B7 is the result: the monthly repayment. It has to be a formula.
    • 2 E3 is the number you want it to hit: $2,100.
    • 3 B5 is what Goal Seek may change: the interest rate. It has to be a plain number.
    A home loan sheet: loan amount, term, interest rate in B5, monthly repayment in B7 and a budget of $2,100 in E3
    B7 is a formula that works out the repayment from the rate in B5.Enlarge

  3. Fill in the panel and press Seek

    • 1 Set cell: B7
    • 2 To value: 2100 (type the number)
    • 3 By changing cell: B5
    • 4 Press Seek.

    Shortcut: click a cell in the sheet, then the small button at the end of a box, and the address is filled in for you.

    The Solvella Goal Seek sidebar with Set cell B7, To value 2100, By changing cell B5 and the Seek button
    The Goal Seek sidebar, filled in for the loan.Enlarge

  4. Read the answer

    1 B5 is now 0.06007, a yearly rate of about 6.007%. At any rate up to that, the repayment stays within $2,100.

    Changed your mind? Press Undo to put the old rate back.

    Goal Seek found a solution: target 2100, current value 2100, B5 = 0.06006990008
    The answer: a yearly rate of about 6.007%.Enlarge
Got a whole column to solve? The Multi tab (Pro) does the same for hundreds of rows at once, such as the price on every row that gives a 25% margin. Goal Seek in detail

Goal Seek can't find an answer? See Troubleshooting.