Bug :
MS Office Professional Excel 2010 V 10.0.7153.5000 (32-bit)
MS Excel for Mac 2011 14.5.4 (1050722)
I've produced a Excel sheet with a non-linear equation (i.e. circular) which requires iteration turned on to converge.
All seems to work correctly and formulas converges correctly.
However several cells not related to the non-linear equation are in error.
Below shows the problem with Iteration on (itt:100::tol:0.0001):
Red cells are wrong.
The Blue cells are what is used in the calculation
The green cell actually has non-linear interaction with some cells above (see 2nd figure)
Cell O39 == N39/N40 = 975.0004166/731.0004166 = (Should be 0.7497.. but is shown as 0.6996..)
The bottom box shows the correct (0.7497..) using only numbers.
I generated the same formula above (O38 ERROR and below O40 CORRECT)
Go figure. Ive used excel's non-linear convergence for 20 years and have never experienced this problem.
Any ideas, Tried it in PC 2010 & Mac 2011 versions.
I'm pretty stumped by this one and pretty sophisticated excel user. Would hate to go back to 2003 versions.

If I turn off the iteration of course I get a circular reference as shown below the error is still there

I can remove the non-linear equation by copy/past cell M30 by its VALUE= 137.4...
And then the formula is computed correctly as shown below:

Go figure. Ive used excel's non-linear convergence for 20years and have never experienced this problem. Now Im wondering if Ive designed things with a flawed program