Question

Taxes reduce your paycheck by 22% each month. In an Excel spreadsheet, the salary earned for a month stored in cell A35. Write an Excel formula that would calculate the dollar amount of taxes.

a.
=A35*1.22

b.
=A35/0.22

c.
=A35*0.22

d.
=0.22/A35

e.
=A35/22

f.
None of the above.

Answer 1

c) =A35*0.22

Explanation:

Since the taxes reduce your paycheck by 22% each month, we can say that the amount of taxes is 22% of your salary.

This would be Amount of taxes = (amount of salary)(0.22)

Since the salary earned for a month is stored in cell A35, we would have that:

Amount of taxes = A35*0.22