Hello
I’m learning excel at college and I have an exercise I’m trying to solve for 2 days now and I didn’t succeed.
Employees of a company have different annual salaries. But each salary is always divided into several fixed parts 6000 $ – 9000 $ – 15000 $ - 30000 $ - 60000 $ - Rest of salary if available
Let’s say the annual salary of one employee is 125.000 $. The salary is always divided into several fixed parts 6000 $ – 9000 $ – 15000 $ - 30000 $ – 60000 $ - Rest (5000 $).
(Sum =125 .000 $) and taxes are added on theses parts with different rates:
6000 $ with 2% taxes = 120 $ taxes
9000 $ with 4 % taxes = 360 $ taxes
15000 with 7% taxes = 1050 $ taxes
30000 with 11% taxes = 3300 $
60000 $ with 15 % taxes = 9000 $
Rest 5000 with 20% taxes = 1000 $
Sum of taxes = 120+360+1050+3300+9000+1000= 14830 $
How can I create an excel formula in which I can add the annual salary (i.e. 125.000 $) and get the final tax (i.e. 14830 $)??
It’s been 2 days and I couldn’t figure out how
Any help please
Thanks in advance
I’m learning excel at college and I have an exercise I’m trying to solve for 2 days now and I didn’t succeed.
Employees of a company have different annual salaries. But each salary is always divided into several fixed parts 6000 $ – 9000 $ – 15000 $ - 30000 $ - 60000 $ - Rest of salary if available
Let’s say the annual salary of one employee is 125.000 $. The salary is always divided into several fixed parts 6000 $ – 9000 $ – 15000 $ - 30000 $ – 60000 $ - Rest (5000 $).
(Sum =125 .000 $) and taxes are added on theses parts with different rates:
6000 $ with 2% taxes = 120 $ taxes
9000 $ with 4 % taxes = 360 $ taxes
15000 with 7% taxes = 1050 $ taxes
30000 with 11% taxes = 3300 $
60000 $ with 15 % taxes = 9000 $
Rest 5000 with 20% taxes = 1000 $
Sum of taxes = 120+360+1050+3300+9000+1000= 14830 $
How can I create an excel formula in which I can add the annual salary (i.e. 125.000 $) and get the final tax (i.e. 14830 $)??
It’s been 2 days and I couldn’t figure out how
Any help please
Thanks in advance