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
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