Final answer:
In cell B8, use the IF function with the formula =IF(B6 >= 20000, 0.15, 0.03) to return 15% if B6 is ≥20,000, or 3% if not.
Step-by-step explanation:
To enter a formula in cell B8 that returns a value of 15% if the cell B6 is greater than or equal to 20,000 or 3% if it is not, you can make use of the IF function in Excel. The formula you would enter into cell B8 is:
=IF(B6 >= 20000, 0.15, 0.03)
This formula uses the IF function to check if the value in cell B6 is greater than or equal to 20,000. If that condition is true, it will return 0.15 (representing 15%), otherwise, it will return 0.03 (representing 3%). This conditional logic is similar to making decisions based on different percentage change rates or growth rates.