Refer to Table A to build this sheet if you like, or download the example file. We'll use the simple mortgage calculator shown in Figure A.įigure A We'll use this simple mortgage calculator to demonstrate Excel's Scenario Manager. In this way, you can view the results of different input values (or scenarios) at the same time. The Scenario Manager lets you substitute input values for multiple cells (up to 32).
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Last month's article showed you how to use Goal Seek, a what-if analysis tool that tells you how input values must change to achieve a specific goal. In other words, you can see the impact of changing input values without changing the actual data. Quick reviewĪll three analysis tools are what-if tools. Excel 2003 doesn't support this feature, but you can save the.
xls file (which also contains last month's examples). For your convenience, you can download the example. Then, we'll change the example a bit by calculating the total cost of the mortgage and compare those. We'll generate a summary report that lets us compare all the possible mortgage terms at the same time. This month, we continue with the mortgage example using Scenario Manager. Last month, we used Goal Seek to determine the most reasonable mortgage payment within a specific budget.