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Simply replace the input values, the interest rate, term, and principal to return a monthly payment.įigure A We'll use this simple mortgage calculator to demonstrate Excel's Data Table.Ī data table is a range that evaluates changing variables in a single formula. With the current input values of 6%, 180 months, and a principal of $200,000, a monthly payment is $1,687.71. Refer to Table A to create this sheet or download the example file. Once again, we'll use the simple mortgage calculator shown in Figure A. In this way, you can view what-if results without changing the original formula's references. You can use table values to replace variables in a formula or function. Excel's Data Table tool works similarly to Goal Seek and Scenario Manager.
#What does the quick analysis tool in excel 2013 how to
In keeping with our first two articles, " How to use Excel's Scenario Manager analysis tool" and " How to use Excel's Goal Seek analysis tool," we'll use the Data Table feature to explore possible mortgage options by evaluating several interest rates and term values. 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. xls files that contain the examples from the last two articles (although not all the solutions are supported by Excel 2003). For your convenience, you can download the example. This article completes the series on Excel's what-if tools. We'll generate a data table that displays multiple interest and term options.
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This month, we'll continue with the mortgage example to explore the Data Table feature. The last two months, we've reviewed Excel's what-if analysis tools, Goal Seek and Scenario Manager.