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How can I create a formula for this Calculation in Excel
76% on first $1,250 of Salary + 54% of following $3,750 + 45% of the remaining to a max. Of 8000$ or 85% of Salary whichever is less.
I appreciate any solution for this.
How can I create a formula for this Calculation in Excel
76% on first $1,250 of Salary + 54% of following $3,750 + 45% of the remaining to a max. Of 8000$ or 85% of Salary whichever is less.
I appreciate any solution for this.
Try this ...
=1250*0.76+3750*0.54+MIN(8000,A1*0.85,A1-5000)*0.45
A1=Annual Salary
Thank you for the response. When i tried the formula, it maxed out at 6575 assuming the salary is 160000 annual and 13333.33 monthly. the formula is supposed to max out at 8000.
Try
=MIN(8000,A1*0.85,1250*0.76+3750*0.54+(A1-5000)*0.45)
I was uncertain which part (or whole) the max applied to: the above returns the lowest of 3 values.
Last edited by JohnTopley; 05-24-2018 at 01:45 AM.
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