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Chapter 6. Automating Calculations with ... > Playing “What If?” with Scenarios

Playing “What If?” with Scenarios

Say you’re purchasing a home and need some idea of how much your monthly mortgage payment is going to be for various loan amounts. You have successfully created a worksheet that determines the monthly payment for a $120,000 house at 6.5%, but you want to know what the payment would be for a $110,000, a $130,000, and a $140,000 home. You also want to see the effects of other loan rates. You could create a bunch of separate worksheets, but a better solution is to create several scenarios for the same worksheet. A scenario is simply a set of values you plug into variables in the worksheet.

Excel offers a tool that enables you to plug various sets of values into your formulas to determine the effects of different values on the outcome. The following sections show you how to create and manage your own scenarios.


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