An accountant needs to withhold 18% of income for taxes if the income is below $40,000, and 27% of income if the income is $40,000 or more. The income amount is in cell A1. Write a spreadsheet expression that would calculate the amount to withhold."

Question

Mathematics

Adriana Novak

16 September, 01:33

An accountant needs to withhold 18% of income for taxes if the income is below $40,000, and 27% of income if the income is $40,000 or more. The income amount is in cell A1. Write a spreadsheet expression that would calculate the amount to withhold."

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Answers (1)

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Nicolas Turner · Answer 1

=IF (A1<40000, (18%*I18), (27%*A1))

Step-by-step explanation:

The spreadsheet expression to be used is the "IF" function. The "IF" function is one that returns a value based on the conditions stated thereafter in the spreadsheet formula. Like every spreadsheet function, this also starts with =

In the question given,

The value to be examined is in cell A1. if A1 is less than $40000 is written as A1<40000, is true, the spreadsheets executes the next function stated as (18%*I18) otherwise (which in this case can be interpreted as A1 greater than or equal to $40000), compute the next command as shown above; (27%*A1)

The final parenthesis closes the command.

Hence the expression is IF (A1<40000, (18%*I18), (27%*A1)).