## Start the new decade with Goal Seek in #Excel

Happy New Year of 2020!Β  Wish you all an Excellent year decade ahead! π

Or you are relying on Excel to set your goals of the year?

Did you know that Excel has a feature called Goal Seek?

Let’s start the year with a simple example to demonstrate how to use Goal Seek in Excel!

### The situation:

Let’s say I want to set a saving plan for the year.Β  My saving plan is simple: On week 1, I started my saving with \$10.Β  Following each week, I will save just 1% more than the previous week’s saving.

With Excel, I can calculate the total savings at the end of week 52 easily.

### The Set up:

```B2 = Input value: the weekly increment percentage that I am committed to
B5 = Input value: my saving on week 1
B6 = B5*(1+\$B\$2)
B4 = SUM(B5:B56)```

Pretty easy and straight-forward… π

By starting with \$10, and save just 1% more every week, I am expected to save \$677.69 in total by the end of the year.

Wait…

### What if…

• my goal is to save \$1000 in total by the end of the year?
• by changing my initiate saving amount (\$X)
• with the weekly incremental percentage remains constant

To solve the equation, I can either

1) Trial and Error by changing the value in B5 manually

2) or using Goal Seek

Well, I believe the choice is obvious!Β  Isn’t it?

### So the question is, where is “Goal Seek”?

It’s under

1. Data Tab
2. What-if Analysis
3. Goal Seek

There we go!

Then input the parameters correctly:

1. Set (target) cell – reference input
2. To value (your gold) – numeric input
3. By changing cell – reference input
4. OK

Note:

The target cell set in step 1 should always be a formula; its result is dependent (directly / indirectly) on the changing cell set in step 3

Tip:

If you don’t care to see the weekly figures, you can use FV function to obtain the result – total savings in the end of the year.

The formula is simple:

```= - FV(B2, 52, B5) 'where
B2 is the interest rate of each period
52 is the number of period
B5 is the amount of first investment (savings)```

You can visit the following page for more details on this function. https://support.office.com/en-us/article/fv-function-2eef9f44-a084-4c61-bdd8-4fe4bb1b71b3

From now on, will you rely Excel on finding your goals?Β  π