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let's<00:00:11.670><c> say</c><00:00:11.940><c> that</c><00:00:12.150><c> I'm</c><00:00:12.389><c> shopping</c><00:00:12.660><c> around</c><00:00:12.840><c> for</c><00:00:13.289><c> a</c>

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let's say that I'm shopping around for a
 

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let's say that I'm shopping around for a
car<00:00:13.590><c> loan</c><00:00:13.770><c> to</c><00:00:13.980><c> try</c><00:00:14.160><c> to</c><00:00:14.219><c> find</c><00:00:14.430><c> one</c><00:00:14.639><c> that</c><00:00:14.670><c> I</c><00:00:14.850><c> can</c>

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car loan to try to find one that I can
 

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car loan to try to find one that I can
afford<00:00:15.330><c> and</c><00:00:15.660><c> I'm</c><00:00:16.350><c> using</c><00:00:16.650><c> Excel</c><00:00:17.010><c> to</c><00:00:17.039><c> help</c><00:00:17.310><c> me</c>

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afford and I'm using Excel to help me
 

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afford and I'm using Excel to help me
find<00:00:17.609><c> the</c><00:00:17.760><c> answer</c><00:00:18.090><c> because</c><00:00:18.509><c> I</c><00:00:18.779><c> know</c><00:00:18.839><c> that</c><00:00:19.080><c> it's</c>

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find the answer because I know that it's
 

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find the answer because I know that it's
great<00:00:19.470><c> at</c><00:00:19.619><c> calculating</c><00:00:20.070><c> things</c>

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great at calculating things
 

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great at calculating things
automatically

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automatically
 

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automatically
all<00:00:22.970><c> I</c><00:00:23.000><c> know</c><00:00:23.240><c> right</c><00:00:23.270><c> now</c><00:00:23.660><c> is</c><00:00:23.900><c> that</c><00:00:23.930><c> the</c><00:00:24.200><c> total</c>

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all I know right now is that the total
 

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all I know right now is that the total
loan<00:00:24.740><c> amount</c><00:00:24.770><c> should</c><00:00:25.340><c> be</c><00:00:25.400><c> twenty</c><00:00:25.940><c> thousand</c>

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loan amount should be twenty thousand
 

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loan amount should be twenty thousand
dollars<00:00:26.660><c> and</c><00:00:26.900><c> the</c><00:00:27.830><c> term</c><00:00:28.070><c> should</c><00:00:28.340><c> be</c><00:00:28.400><c> sixty</c>

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dollars and the term should be sixty
 

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dollars and the term should be sixty
months<00:00:29.300><c> and</c><00:00:29.740><c> the</c><00:00:30.740><c> highest</c><00:00:31.010><c> monthly</c><00:00:31.340><c> payment</c><00:00:31.700><c> I</c>

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months and the highest monthly payment I
 

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months and the highest monthly payment I
can<00:00:31.880><c> afford</c><00:00:32.210><c> is</c><00:00:32.480><c> four</c><00:00:33.110><c> hundred</c><00:00:33.410><c> dollars</c><00:00:34.360><c> the</c>

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can afford is four hundred dollars the
 

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can afford is four hundred dollars the
one<00:00:35.540><c> thing</c><00:00:35.780><c> I</c><00:00:35.900><c> don't</c><00:00:36.200><c> know</c><00:00:36.440><c> is</c><00:00:36.740><c> what</c><00:00:37.190><c> interest</c>

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one thing I don't know is what interest
 

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one thing I don't know is what interest
rate<00:00:37.880><c> I</c><00:00:37.910><c> would</c><00:00:38.030><c> need</c><00:00:38.300><c> in</c><00:00:38.510><c> order</c><00:00:38.870><c> to</c><00:00:39.050><c> get</c><00:00:39.200><c> a</c><00:00:39.260><c> four</c>

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rate I would need in order to get a four
 

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rate I would need in order to get a four
hundred<00:00:39.650><c> dollar</c><00:00:39.830><c> payment</c><00:00:40.660><c> to</c><00:00:41.660><c> find</c><00:00:41.930><c> the</c>

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hundred dollar payment to find the
 

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hundred dollar payment to find the
interest<00:00:42.320><c> rate</c><00:00:42.590><c> I'm</c><00:00:42.770><c> going</c><00:00:43.010><c> to</c><00:00:43.100><c> use</c><00:00:43.280><c> a</c><00:00:43.309><c> feature</c>

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interest rate I'm going to use a feature
 

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interest rate I'm going to use a feature
called<00:00:43.809><c> what-if</c><00:00:44.809><c> analysis</c><00:00:45.250><c> which</c><00:00:46.250><c> allows</c><00:00:46.670><c> you</c>

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called what-if analysis which allows you
 

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called what-if analysis which allows you
to<00:00:46.910><c> fill</c><00:00:47.180><c> in</c><00:00:47.330><c> the</c><00:00:47.420><c> blanks</c><00:00:47.840><c> based</c><00:00:48.200><c> on</c><00:00:48.380><c> the</c>

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to fill in the blanks based on the
 

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to fill in the blanks based on the
information<00:00:48.770><c> that</c><00:00:49.190><c> you</c><00:00:49.280><c> have</c><00:00:49.960><c> now</c><00:00:50.960><c> this</c><00:00:51.110><c> is</c><00:00:51.260><c> a</c>

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information that you have now this is a
 

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information that you have now this is a
somewhat<00:00:51.650><c> more</c><00:00:51.710><c> advanced</c><00:00:52.400><c> feature</c><00:00:52.610><c> and</c>

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somewhat more advanced feature and
 

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somewhat more advanced feature and
you'll<00:00:53.510><c> need</c><00:00:53.660><c> to</c><00:00:53.720><c> be</c><00:00:53.870><c> pretty</c><00:00:54.140><c> comfortable</c>

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you'll need to be pretty comfortable
 

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you'll need to be pretty comfortable
using<00:00:54.890><c> formulas</c><00:00:55.580><c> and</c><00:00:55.730><c> functions</c><00:00:55.820><c> before</c><00:00:56.720><c> you</c>

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using formulas and functions before you
 

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using formulas and functions before you
can<00:00:56.960><c> really</c><00:00:57.199><c> use</c><00:00:57.410><c> it</c>

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can really use it
 

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can really use it
the<00:00:59.660><c> first</c><00:00:59.930><c> thing</c><00:01:00.110><c> I</c><00:01:00.199><c> need</c><00:01:00.350><c> to</c><00:01:00.469><c> do</c><00:01:00.620><c> is</c><00:01:00.860><c> set</c><00:01:01.250><c> up</c><00:01:01.280><c> a</c>

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the first thing I need to do is set up a
 

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the first thing I need to do is set up a
function<00:01:01.730><c> in</c><00:01:02.149><c> this</c><00:01:02.480><c> cell</c><00:01:02.840><c> so</c><00:01:03.280><c> I'll</c><00:01:04.280><c> go</c><00:01:04.430><c> to</c><00:01:04.489><c> the</c>

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function in this cell so I'll go to the
 

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function in this cell so I'll go to the
formulas<00:01:05.119><c> tab</c>

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formulas tab
 

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formulas tab
and<00:01:06.880><c> I'm</c><00:01:07.600><c> going</c><00:01:07.810><c> to</c><00:01:07.870><c> use</c><00:01:08.050><c> the</c><00:01:08.290><c> PMT</c><00:01:08.620><c> function</c>

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and I'm going to use the PMT function
 

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and I'm going to use the PMT function
which<00:01:09.850><c> is</c><00:01:10.000><c> in</c><00:01:10.120><c> the</c><00:01:10.210><c> financial</c><00:01:10.750><c> category</c>

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you

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the<00:01:25.060><c> PMT</c><00:01:25.420><c> function</c><00:01:25.710><c> calculates</c><00:01:26.710><c> the</c><00:01:26.920><c> payment</c>

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the PMT function calculates the payment
 

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the PMT function calculates the payment
for<00:01:27.490><c> a</c><00:01:27.520><c> loan</c><00:01:27.759><c> based</c><00:01:28.479><c> on</c><00:01:28.810><c> constant</c><00:01:28.869><c> payments</c>

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for a loan based on constant payments
 

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for a loan based on constant payments
and<00:01:30.189><c> a</c><00:01:30.820><c> constant</c><00:01:31.390><c> interest</c><00:01:31.780><c> rate</c><00:01:32.969><c> just</c><00:01:33.969><c> like</c>

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and a constant interest rate just like
 

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and a constant interest rate just like
any<00:01:34.329><c> function</c><00:01:34.810><c> if</c><00:01:34.929><c> you</c><00:01:34.960><c> need</c><00:01:35.229><c> more</c>

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any function if you need more
 

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any function if you need more
information<00:01:36.039><c> about</c><00:01:36.189><c> how</c><00:01:36.460><c> it</c><00:01:36.640><c> works</c><00:01:36.939><c> you</c><00:01:37.539><c> can</c>

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information about how it works you can
 

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information about how it works you can
click<00:01:38.020><c> help</c><00:01:38.380><c> on</c><00:01:38.469><c> this</c><00:01:38.859><c> function</c><00:01:39.149><c> but</c><00:01:40.149><c> for</c><00:01:40.360><c> now</c>

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click help on this function but for now
 

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click help on this function but for now
you<00:01:40.509><c> can</c><00:01:40.659><c> just</c><00:01:40.929><c> follow</c><00:01:41.110><c> along</c><00:01:41.439><c> and</c><00:01:41.709><c> enter</c><00:01:42.189><c> in</c>

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you can just follow along and enter in
 

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you can just follow along and enter in
the<00:01:42.369><c> same</c><00:01:42.670><c> arguments</c><00:01:43.149><c> that</c><00:01:43.299><c> I</c><00:01:43.329><c> do</c>

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for<00:01:47.210><c> the</c><00:01:47.360><c> interest</c><00:01:47.720><c> rate</c><00:01:47.960><c> will</c><00:01:48.230><c> enter</c><00:01:48.560><c> cell</c><00:01:48.920><c> b4</c>

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for the interest rate will enter cell b4
 

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for the interest rate will enter cell b4
divided<00:01:50.660><c> by</c><00:01:50.870><c> 12</c><00:01:51.350><c> and</c><00:01:51.820><c> that's</c><00:01:52.820><c> because</c><00:01:53.180><c> the</c>

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divided by 12 and that's because the
 

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divided by 12 and that's because the
yearly<00:01:53.720><c> interest</c><00:01:54.080><c> rate</c><00:01:54.290><c> gets</c><00:01:54.560><c> divided</c><00:01:54.890><c> up</c>

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yearly interest rate gets divided up
 

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yearly interest rate gets divided up
into<00:01:55.400><c> 12</c><00:01:55.940><c> months</c>

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in<00:01:58.840><c> PR</c><00:01:59.840><c> is</c><00:01:59.869><c> the</c><00:02:00.470><c> number</c><00:02:00.740><c> of</c><00:02:00.890><c> payments</c><00:02:01.100><c> and</c><00:02:01.549><c> in</c>

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in PR is the number of payments and in
 

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in PR is the number of payments and in
this<00:02:02.420><c> case</c><00:02:02.659><c> that</c><00:02:02.930><c> is</c><00:02:03.110><c> in</c><00:02:03.290><c> cell</c><00:02:03.619><c> b3</c>

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PV<00:02:09.880><c> is</c><00:02:10.090><c> the</c><00:02:10.210><c> present</c><00:02:10.450><c> value</c><00:02:10.810><c> which</c><00:02:11.740><c> is</c><00:02:12.070><c> the</c>

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PV is the present value which is the
 

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PV is the present value which is the
total<00:02:12.640><c> amount</c><00:02:12.730><c> of</c><00:02:13.000><c> the</c><00:02:13.120><c> loan</c><00:02:13.300><c> and</c><00:02:13.480><c> that's</c><00:02:14.350><c> cell</c>

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total amount of the loan and that's cell
 

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total amount of the loan and that's cell
b2

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b2
 

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b2
and<00:02:17.720><c> we</c><00:02:18.110><c> don't</c><00:02:18.230><c> need</c><00:02:18.410><c> to</c><00:02:18.500><c> worry</c><00:02:18.650><c> about</c><00:02:18.770><c> the</c>

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and we don't need to worry about the
 

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and we don't need to worry about the
last<00:02:19.130><c> two</c><00:02:19.430><c> arguments</c>

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since<00:02:24.170><c> our</c><00:02:24.290><c> interest</c><00:02:24.680><c> rate</c><00:02:24.860><c> cell</c><00:02:25.130><c> is</c><00:02:25.310><c> blank</c>

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since our interest rate cell is blank
 

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since our interest rate cell is blank
Excel<00:02:26.390><c> is</c><00:02:26.540><c> assuming</c><00:02:26.990><c> that</c><00:02:27.140><c> the</c><00:02:27.260><c> interest</c><00:02:27.590><c> rate</c>

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Excel is assuming that the interest rate
 

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Excel is assuming that the interest rate
is<00:02:27.950><c> zero</c><00:02:28.280><c> so</c><00:02:29.060><c> this</c><00:02:29.300><c> payment</c><00:02:29.570><c> that</c><00:02:29.780><c> it</c><00:02:29.870><c> gives</c><00:02:30.050><c> us</c>

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is zero so this payment that it gives us
 

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is zero so this payment that it gives us
is<00:02:30.350><c> not</c><00:02:30.620><c> correct</c><00:02:31.070><c> and</c><00:02:31.280><c> this</c><00:02:32.270><c> is</c><00:02:32.450><c> where</c><00:02:32.690><c> what-if</c>

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is not correct and this is where what-if
 

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is not correct and this is where what-if
analysis<00:02:33.230><c> comes</c><00:02:33.890><c> in</c><00:02:34.100><c> it</c><00:02:34.460><c> will</c><00:02:35.030><c> allow</c><00:02:35.270><c> us</c><00:02:35.420><c> to</c>

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analysis comes in it will allow us to
 

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analysis comes in it will allow us to
say<00:02:35.840><c> if</c><00:02:36.140><c> the</c><00:02:37.010><c> payment</c><00:02:37.400><c> is</c><00:02:37.520><c> $400</c><00:02:38.510><c> then</c><00:02:39.110><c> what</c>

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say if the payment is $400 then what
 

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say if the payment is $400 then what
will<00:02:39.620><c> the</c><00:02:39.740><c> value</c><00:02:39.890><c> in</c><00:02:40.310><c> this</c><00:02:40.610><c> cell</c><00:02:40.670><c> be</c>

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so<00:02:44.980><c> go</c><00:02:45.159><c> to</c><00:02:45.220><c> the</c><00:02:45.459><c> data</c><00:02:45.700><c> tab</c>

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and<00:02:47.950><c> under</c><00:02:48.950><c> what</c><00:02:49.220><c> if</c><00:02:49.340><c> analysis</c><00:02:49.879><c> you'll</c><00:02:50.090><c> see</c>

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and under what if analysis you'll see
 

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and under what if analysis you'll see
three<00:02:50.750><c> options</c><00:02:51.250><c> we're</c><00:02:52.250><c> going</c><00:02:52.489><c> to</c><00:02:52.640><c> use</c><00:02:52.910><c> goal</c>

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three options we're going to use goal
 

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three options we're going to use goal
seek

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you

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set<00:03:04.340><c> cell</c><00:03:04.819><c> will</c><00:03:05.239><c> be</c><00:03:05.420><c> the</c><00:03:05.450><c> cell</c><00:03:05.810><c> that</c><00:03:05.930><c> contains</c>

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set cell will be the cell that contains
 

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set cell will be the cell that contains
the<00:03:06.440><c> monthly</c><00:03:06.920><c> payment</c><00:03:07.340><c> which</c><00:03:08.000><c> is</c><00:03:08.030><c> b5</c>

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and<00:03:11.120><c> we</c><00:03:11.690><c> want</c><00:03:11.870><c> a</c><00:03:11.930><c> $400</c><00:03:12.680><c> monthly</c><00:03:13.250><c> payment</c><00:03:13.700><c> but</c>

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and we want a $400 monthly payment but
 

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and we want a $400 monthly payment but
the<00:03:14.360><c> PMT</c><00:03:14.720><c> function</c><00:03:14.930><c> actually</c><00:03:15.620><c> needs</c><00:03:16.010><c> to</c><00:03:16.100><c> see</c><00:03:16.400><c> a</c>

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the PMT function actually needs to see a
 

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the PMT function actually needs to see a
negative<00:03:16.760><c> value</c><00:03:17.360><c> here</c><00:03:17.390><c> so</c><00:03:18.380><c> type</c><00:03:18.770><c> negative</c><00:03:19.430><c> 400</c>

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negative value here so type negative 400
 

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negative value here so type negative 400
and<00:03:20.300><c> it</c><00:03:21.200><c> needs</c><00:03:21.350><c> to</c><00:03:21.440><c> be</c><00:03:21.500><c> negative</c><00:03:21.950><c> because</c><00:03:22.160><c> the</c>

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and it needs to be negative because the
 

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and it needs to be negative because the
amount<00:03:22.760><c> is</c><00:03:22.970><c> being</c><00:03:23.240><c> subtracted</c><00:03:23.540><c> from</c><00:03:24.140><c> the</c><00:03:24.319><c> loan</c>

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amount is being subtracted from the loan
 

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amount is being subtracted from the loan
when<00:03:24.890><c> you</c><00:03:25.010><c> make</c><00:03:25.160><c> a</c><00:03:25.190><c> payment</c>

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when you make a payment
 

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when you make a payment
where<00:03:27.950><c> it</c><00:03:28.069><c> says</c><00:03:28.280><c> by</c><00:03:28.670><c> changing</c><00:03:29.270><c> cell</c><00:03:29.599><c> we'll</c><00:03:30.319><c> put</c>

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where it says by changing cell we'll put
 

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where it says by changing cell we'll put
the<00:03:30.680><c> blank</c><00:03:30.890><c> cell</c><00:03:31.190><c> that</c><00:03:31.400><c> we're</c><00:03:31.520><c> trying</c><00:03:31.700><c> to</c><00:03:31.819><c> find</c>

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the blank cell that we're trying to find
 

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the blank cell that we're trying to find
the<00:03:32.180><c> value</c><00:03:32.330><c> for</c><00:03:32.540><c> which</c><00:03:33.140><c> in</c><00:03:33.319><c> this</c><00:03:33.410><c> case</c><00:03:33.590><c> is</c><00:03:33.800><c> b4</c>

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and<00:03:37.810><c> when</c><00:03:38.470><c> you</c><00:03:38.560><c> click</c><00:03:38.770><c> okay</c><00:03:39.100><c> it</c><00:03:39.370><c> should</c><00:03:39.430><c> tell</c>

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and when you click okay it should tell
 

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and when you click okay it should tell
you<00:03:39.910><c> that</c><00:03:39.940><c> goal</c><00:03:40.270><c> seek</c><00:03:40.570><c> found</c><00:03:40.900><c> a</c><00:03:41.020><c> solution</c>

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so<00:03:44.880><c> just</c><00:03:45.090><c> click</c><00:03:45.270><c> okay</c><00:03:45.540><c> again</c>

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so just click okay again
 

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so just click okay again
and<00:03:47.360><c> our</c><00:03:48.170><c> answer</c><00:03:48.530><c> is</c><00:03:48.560><c> seven</c><00:03:49.370><c> point</c><00:03:49.700><c> four</c><00:03:49.910><c> two</c>

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and our answer is seven point four two
 

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and our answer is seven point four two
percent<00:03:50.780><c> so</c><00:03:51.590><c> that's</c><00:03:51.710><c> the</c><00:03:51.950><c> interest</c><00:03:52.280><c> rate</c><00:03:52.430><c> I'm</c>

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percent so that's the interest rate I'm
 

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percent so that's the interest rate I'm
going<00:03:52.730><c> to</c><00:03:52.820><c> look</c><00:03:53.000><c> for</c><00:03:53.300><c> when</c><00:03:53.750><c> I</c><00:03:53.780><c> go</c><00:03:53.990><c> out</c><00:03:54.110><c> shopping</c>

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going to look for when I go out shopping
 

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going to look for when I go out shopping
for<00:03:54.560><c> a</c><00:03:54.680><c> car</c><00:03:54.740><c> loan</c>

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for a car loan
 

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for a car loan
you<00:03:57.450><c> may</c><00:03:57.599><c> want</c><00:03:57.780><c> to</c><00:03:57.840><c> practice</c><00:03:57.989><c> this</c><00:03:58.349><c> a</c><00:03:58.409><c> few</c>

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you may want to practice this a few
 

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you may want to practice this a few
times<00:03:58.920><c> because</c><00:03:59.280><c> it</c><00:03:59.849><c> is</c><00:04:00.000><c> a</c><00:04:00.030><c> little</c><00:04:00.329><c> bit</c>

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times because it is a little bit
 

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times because it is a little bit
different<00:04:00.810><c> from</c><00:04:00.900><c> the</c><00:04:00.989><c> other</c><00:04:01.230><c> features</c><00:04:01.620><c> that</c>

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different from the other features that
 

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different from the other features that
we've<00:04:01.920><c> looked</c><00:04:02.159><c> at</c><00:04:02.370><c> but</c><00:04:03.239><c> if</c><00:04:03.329><c> you're</c><00:04:03.480><c> in</c><00:04:03.569><c> a</c>

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we've looked at but if you're in a
 

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we've looked at but if you're in a
situation<00:04:03.870><c> where</c><00:04:04.500><c> you</c><00:04:04.590><c> just</c><00:04:04.620><c> need</c><00:04:05.010><c> to</c><00:04:05.099><c> fill</c><00:04:05.310><c> in</c>

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situation where you just need to fill in
 

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situation where you just need to fill in
an<00:04:05.579><c> unknown</c><00:04:05.909><c> value</c><00:04:06.150><c> it</c><00:04:06.540><c> is</c><00:04:06.930><c> a</c><00:04:06.959><c> really</c><00:04:07.379><c> great</c>

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an unknown value it is a really great
 

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an unknown value it is a really great
feature<00:04:07.920><c> to</c><00:04:08.189><c> use</c><00:04:09.799><c> like</c><00:04:10.799><c> what</c><00:04:10.980><c> you</c><00:04:11.129><c> just</c><00:04:11.159><c> saw</c>

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feature to use like what you just saw
 

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feature to use like what you just saw
rate<00:04:13.019><c> it</c><00:04:13.200><c> at</c><00:04:13.709><c> a</c><00:04:13.769><c> comment</c><00:04:14.099><c> subscribe</c><00:04:14.849><c> to</c><00:04:15.299><c> our</c>

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rate it at a comment subscribe to our
 

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rate it at a comment subscribe to our
Channel<00:04:15.870><c> the</c><00:04:16.859><c> freedom</c><00:04:17.310><c> to</c><00:04:17.340><c> learn</c><00:04:18.229><c> what</c><00:04:19.229><c> you</c>

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Channel the freedom to learn what you
 

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Channel the freedom to learn what you
want<00:04:19.940><c> when</c><00:04:20.940><c> you</c><00:04:20.970><c> want</c><00:04:22.970><c> absolutely</c><00:04:23.970><c> free</c>

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GCF<00:04:28.510><c> learn</c><00:04:29.110><c> free.org</c>