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Using data tables in formulas

From: Excel 2010 Essential Training

Video: Using data tables in formulas

Two Trees is considering a capital loan so that they can expand production by buying some capital equipment. But they want to see a whole bunch of options for how much this loan is going to cost them depending upon how long it takes them to pay back or maybe how much money they borrow. If you watch the movie on Goal Seek, you saw that we were able to substitute one input, maybe just the interest rate or maybe just the amount that they are borrowing. Well, using the Data Table feature we can substitute one or possibly two entire range of inputs.

Using data tables in formulas

Two Trees is considering a capital loan so that they can expand production by buying some capital equipment. But they want to see a whole bunch of options for how much this loan is going to cost them depending upon how long it takes them to pay back or maybe how much money they borrow. If you watch the movie on Goal Seek, you saw that we were able to substitute one input, maybe just the interest rate or maybe just the amount that they are borrowing. Well, using the Data Table feature we can substitute one or possibly two entire range of inputs.

In this workbook, you want to be in a single variable worksheet. Let's take a look at what we are doing here. We have about $100,000 that we are going to borrow. The company thinks that the interest rate will be about 6% per year. It's thinking of paying it off over a period of 10 years. We'll use the Payment function for that. If you click on the syntax tab, you can see the syntax of the Payment function. So, we see =PMT. What's the interest rate to be charged, how long will it take to pay back, and what's the present value. Which basically means how much is that check going to be the first day that we get it from the bank? What does that loan worth? So, let's go to the first tab here single variable and what we'll do is we'll substitute only how many years will it take to pay off.

So, click here in cell D11 and we'll use the Payment function. So we'll say =PMT, open up the parenthesis. What's the rate? Well, here it is, 6%. Keep in mind that's 6% per year. We are going to pay this loan back every month. So, we have to take that 6% per year and divide it by 12 to get the monthly interest rate. So, type a comma and we'll put in the next argument. The next argument is how many periods? Well, it's 10 years, not 10 periods. So, click that 10 years and we need to multiply by 12.

So, 10 years, the number of periods, will really be 120 months. Type a comma. What's the present value? Well, the day we get the check from the bank, the present value is the full $100,000. Then press Ctrl+Enter, so we enter and stay on that cell. We can see it's a negative number, because it's cash outflow. We can see that every month we will write a check of about $1100 to the bank to pay this off. Well, maybe Two Trees can't afford all that or maybe they are flush and they can afford to pay back some more. So, here we can vary how many years it will take to pay back from paying it back over one year through paying it back over 30 years.

So, let's select all the cells inside this box. Keep in mind when you do this, this is kind of specific. You have to put this function in this cell and you have to put these numbers here kind of in that adjacent column. So, now we go up to the Data tab, click on What-If Analysis, and choose Data Table. Now, this Data Table dialog box is not the most intuitive thing in the world. It's asking Row input cell, Column input cell. Ah, what is that? Well, there is no row input cell. So, let's leave that for now. Click down here in Column input cell.

Well, what is the column? Well, down here in Column C these are the number of years that we are going to pay back. What is that substituting? Well, that's substituting for this number where our Payment function is getting that figure. So, click on that 10. So, that Cell D7 is what's going to be substituted for when we go down this column and then our payments will appear in this blank column. So, I click OK to deselect. Now, we could see that $100,000 at 6% interest.

If we pay it back over one year, every month we'll write a check for about $8,600. $100,000, 6% interest rate, if it takes us 30 years, every month we'll write a check for about $600. And if you want this formatted really to look like dollars, we can just select these figures, go to the Home tab and click this dollar. Now, it looks like dollars and negative, because the money is coming from their pocket and going out. Well, that's great, but what if we want to vary not just the number of years, maybe we have another input we want to vary? So, let's go here to the dual variable table.

Now, here we can vary not just how many years it'll take, but how much money we can pay that back. I am assuming that the company doesn't have a lot of control over the interest rate, but it probably can control how long it'll take to pay back and certainly how much to borrow. So, let's put in the Payment function again. It has to be specifically in this cell here A11. So, again we'll put in =PMT, open the parenthesis, there is the rate divided by 12, type in a comma, we want the number of periods, there are 10 years, time is 12, just like in the last sheet, type in a comma, and it's the same present value, that $100,000, and press Ctrl+Enter.

So, there's the Payment function. Now, again let's select all of the cells in this box, so starting from A11 down and across to select all the cells in that box. So, let's go back to the Data tab > What-If Analysis > Data Table. Move this out of the way. Now, we are going to use both of these fields. The row input cell. Well, what's the row? Well, we have in row 11, we are substituting for that present value. So, click that present value. We go in here to the Column input cell. Well, what's the column in the table? The column in the table is substituting for the number of years.

So, click that number of years and that's it. Click OK. Now, we can see-- let's just select that and format it as dollars before we talk about it. Now, we can see for example if we borrow $95,000 and take 20 years to pay it back at 6%, every month we'll write a check for about $681. Or if we borrow $110,000 at 6% interest, pay it back over five years, it will cost us a little over $2100. Now, there's no rule that says you have to use these specific variables and this specific Payment function for Data Tables.

For example, if interest rates are volatile, you might try higher and lower interest rate amounts. Or maybe you need to see cosines and tangents of different angles. So, you can think of Data Tables as sort of a kicked up type of Auto Fill.

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This video is part of

Image for Excel 2010 Essential Training
Excel 2010 Essential Training

80 video lessons · 129846 viewers

Bob Flisser
Author

 
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  1. 1m 35s
    1. Welcome
      57s
    2. Using the exercise files
      38s
  2. 19m 31s
    1. Exploring three common uses for Excel
      3m 17s
    2. Touring the interface
      3m 38s
    3. Finding the commands you need
      3m 51s
    4. Using Backstage view or the File tab
      3m 25s
    5. Maintaining file compatibility
      5m 20s
  3. 21m 23s
    1. Creating a worksheet
      5m 23s
    2. Techniques for copying and pasting
      3m 57s
    3. Entering data automatically with Auto Fill
      4m 37s
    4. Targeting large data groups
      4m 26s
    5. Changing a worksheet's structure
      3m 0s
  4. 47m 50s
    1. Understanding formulas and functions
      4m 41s
    2. Entering data in a worksheet
      3m 22s
    3. Adding numbers manually
      5m 1s
    4. Adding numbers using Sum and AutoSum
      6m 11s
    5. Adding a whole worksheet
      1m 48s
    6. Working with numbers in columns
      4m 53s
    7. Preventing errors using absolute references
      5m 57s
    8. Working with times and dates
      3m 8s
    9. Using IF
      4m 49s
    10. Using SUMIF and AVERAGEIF
      4m 15s
    11. Naming and using cell ranges
      3m 45s
  5. 33m 57s
    1. Formatting numbers and dates
      7m 6s
    2. Applying fonts, background colors, and borders
      4m 35s
    3. Adjusting columns, rows, and text
      5m 2s
    4. Using conditional formatting
      4m 6s
    5. Using custom conditional formatting
      5m 49s
    6. Adding pictures and shapes
      7m 19s
  6. 25m 27s
    1. Inserting SmartArt
      6m 54s
    2. Coordinating a look using themes
      3m 22s
    3. Applying built-in styles
      3m 16s
    4. Creating and sharing styles
      5m 33s
    5. Using templates
      4m 9s
    6. Creating and using original templates
      2m 13s
  7. 13m 23s
    1. Making the pieces fit
      4m 57s
    2. Inserting headers and footers
      3m 51s
    3. Printing and PDFs
      4m 35s
  8. 34m 3s
    1. Finding and replacing data
      3m 12s
    2. Freezing panes
      3m 0s
    3. Repeating row and column titles
      3m 34s
    4. Creating multiple custom worksheet views
      5m 18s
    5. Hiding or grouping rows and columns
      5m 31s
    6. Managing worksheets
      7m 23s
    7. Calculating formulas across worksheets
      6m 5s
  9. 36m 34s
    1. Importing and exporting data in Excel
      8m 2s
    2. Setting workbook permissions
      6m 44s
    3. Inserting and editing comments
      6m 49s
    4. Sharing a workbook
      1m 25s
    5. Tracking changes
      3m 5s
    6. Saving files in shared locations
      10m 29s
  10. 27m 30s
    1. Splitting cell data into multiple cells
      2m 22s
    2. Joining data from multiple cells
      4m 18s
    3. Basic and multi-field sorting
      6m 30s
    4. Using tables to sort and filter data
      4m 31s
    5. Inserting automatic subtotals
      3m 46s
    6. Creating lookup tables
      6m 3s
  11. 32m 56s
    1. Using auditing to diagram
      6m 3s
    2. Using evaluation in Excel
      2m 2s
    3. Working with Goal Seek
      5m 29s
    4. Using data tables in formulas
      6m 2s
    5. Using scenarios in formulas
      5m 28s
    6. Exploring the Analysis Toolpak
      7m 52s
  12. 18m 1s
    1. Discovering PivotTables
      2m 22s
    2. Creating a basic PivotTable
      2m 46s
    3. Modifying a PivotTable
      6m 57s
    4. Creating and modifying a PivotChart
      5m 56s
  13. 26m 58s
    1. Choosing chart types
      1m 55s
    2. Inserting Sparklines
      3m 54s
    3. Creating a column chart
      3m 23s
    4. Modifying a column chart
      5m 47s
    5. Creating and modifying a pie chart
      6m 45s
    6. Placing Excel charts into other Office applications
      5m 14s
  14. 21m 53s
    1. Understanding macros
      3m 5s
    2. Recording and using a simple macro
      11m 58s
    3. Editing a macro
      6m 50s
  15. 20m 33s
    1. Customizing the Quick Access toolbar
      3m 30s
    2. Customizing the Ribbon bar
      8m 44s
    3. Setting Excel options
      8m 19s
  16. 16s
    1. Goodbye
      16s

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