Case EX 15-1 Tracy is currently living in a rental apartment but she wants to buy a condo. She is using a worksheet to figure out how much she would need to save each year to be able to save enough money to make the down payment for the condo in six years. Tracy was told by her banker that she would need to put down $30,000 for the down-payment on the condo. She can use the ____ feature to figure out how much she would need to save each month to be able to make the down-payment in six years.
A) Trace Dependents
B) Trace Precedents
C) Plan Ahead
D) Goal Seek

Question

Quizplus · Accepted Answer

The feature that would best help Tracy figure out how much she would need to save each month is Goal Seek. This feature is used to determine what input values are needed to achieve a desired outcome. Tracy can set the desired outcome to be having the $30,000 needed for the down-payment in six years and use Goal Seek to determine the monthly savings amount needed to achieve that goal. The other options (A, B, and C) do not directly help with this specific calculation.

Case EX 15-1 Tracy Is Currently Living in a Rental