Hi guys. I understood how to use VLOOKUP to get a tax rate from a table for the money range. Here is the table.
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I am supposed to calculate the federal tax. Federal Tax = Federal Tax Rate * Pay after deductions
I dont understand how can I use the way below to calculate it. I can only make the worksheet take one percentage according to the weekly pay after deductions value. Can anyone help me do this ?:
For a given row, the tax rate in the second column applies to the weekly pay greater than or equal
to (but less than the weekly pay in the row right below) the value in the first column. For example, if the
weekly pay after deduction is equal to $1,200; the tax would be 5% of the first $650 plus 10% of $350
(1,000 – 650) plus 15% of $200 (1,200 – 1,000).
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