- From the Data tab, in the Data Tools group, choose the What If Analysis drop down button and select Goal Seek.
- In the Goal Seek dialog box, type 250 in the To value: field, and with your cursor in the By changing cell: field, select the Loan Amount value. Click the OK button.
- Examine the results. It’s telling us that we can borrow $13,247 at the same rate and terms and meet the need to keep our payment at $250. If that loan amount looks good, click OK. If not, click Cancel and try perhaps, setting By changing cell: to the term or interest rate if could vary as well.
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