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#1
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Calculate sales tax
Our local sales tax is 7% on the first $5,000 then 6% for evertthing over
$5,000. What formula would I use? |
#2
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Calculate sales tax
Try this: =MIN(A1,5000)*7%+(A1-5000)*6%
Micky "JeffB" wrote: Our local sales tax is 7% on the first $5,000 then 6% for evertthing over $5,000. What formula would I use? |
#3
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Calculate sales tax
Not quite. For a sale of $1000, that formula computes a tax of -170!.
Correct formula: =Min(A1,$C$1)*7% + IF(A1$C$1,(A1-$C$1)*6%,0) where C1 contains the change-of-rate threshold (5000 in your example). Putting the threshold in a cell makes it much easier to change the calculation when the threshold changes (as it surely will someday). -TedMi "????? (????) ?????" <micky-a*at*tapuz.co.il wrote in message ... Try this: =MIN(A1,5000)*7%+(A1-5000)*6% Micky "JeffB" wrote: Our local sales tax is 7% on the first $5,000 then 6% for evertthing over $5,000. What formula would I use? |
#4
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Calculate sales tax
"JeffB" wrote:
Our local sales tax is 7% on the first $5,000 then 6% for evertthing over $5,000. What formula would I use? =MIN(A1*7%, 5000*7%+(A1-5000)*6%) You could write 350 instead of 5000*7%. |
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