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formula

ResolvedVersion 365

Kerry has attended:
Excel Intermediate course

Formula % <> %

Hello,

An employee has an annual salary of £x and they pay 5% of their annual salary into their pension and the employer pays 3% a total 8% per annum. Each month 1/12th of annual 5% contribution and employer 3% contribution is paid into the employee pension fund.

The employee wants to increase the amount they pay each month as a fixed amount and not as a % of their annual salary.

What would be the formula to check that their employee monthly contribution is at least 5% to ensure that the total % being paid into their pension is 8% or more?

Also, the formula would need to factor in should the salary increase or decrease.

Thank you so much for your support.
Kerry

RE: Formula % <> %

Hi Kerry

Thank you for using the forum to ask a question.

Can you share the formula you have attempted for this question?
This helps us to support your learning rather than solving the problem for you.

I would also recommend the Excel Advanced course, this covers nested functions and parameters which would help develop your skills further to solve similar questions.


Kind regards

Richard
Microsoft Certified Trainer

STL - https://www.stl-training.co.uk
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Mon 5 Feb 2024: Automatically marked as resolved.

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