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Microsoft® Excel® 2010: Data Analysis and Business Modeling
book

Microsoft® Excel® 2010: Data Analysis and Business Modeling

by Wayne L. Winston
January 2011
Beginner to intermediate content levelBeginner to intermediate
720 pages
23h 29m
English
Microsoft Press
Content preview from Microsoft® Excel® 2010: Data Analysis and Business Modeling

Chapter 33. Using Solver for Financial Planning

Questions answered in this chapter:

  • Can I use Solver to verify the accuracy of the Excel PMT function or to determine mortgage payments for a variable interest rate?

  • Can I use Solver to determine how much money I need to save for retirement?

The Solver feature in Microsoft Excel 2010 can be a powerful tool for analyzing financial planning problems. In many of these types of problems, a quantity such as the unpaid balance on a loan or the amount of money needed for retirement changes over time. For example, consider a situation in which you borrow money. Because only the noninterest portion of each monthly payment reduces the unpaid loan balance, we know that the following equation (which I’ll refer ...

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Publisher Resources

ISBN: 9780735656864Purchase book