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Solver isn’t limited to just solving equations for a certain value, like 6 months in our examples so far. Solver can also find minimum and maximum solutions, as we’ll see in Excel Video 336. This time instead of trying to pay for our equipment in 6 months, the question we’ll ask is, “What is the minimum amount of time it will take to pay for the equipment given our constraints?” Solver can handle these types of questions quickly and easily.
In the simple example we’re using, it’s easy to find the minimum number of months. If we had lots of interdependent variables, Solver can make complicated questions much easier to manage. If you like solving for paying back the equipment in 6 months and solving for the minimum payback time, there’s a way to load and save Solver scenarios. We’ll work on that next time.