Final answer:
The correct Excel formula for computing take-home pay by accounting for taxes is '=Gross Pay * (1 - Tax Rate)'. Remember to use the decimal form of the tax rate in the formula for proper calculation.
Step-by-step explanation:
The correct Excel formula for calculating take-home pay, or net pay, from gross pay by accounting for taxes is option 'c', which is =Gross Pay * (1 - Tax Rate). This formula represents the gross pay adjusted by the percentage that is not taken by taxes, effectively netting the amount that one actually takes home. Choices 'a' and 'd' do not account for a percentage rate, while 'b' incorrectly suggests adding taxes to the net pay.
To calculate the take-home pay without parentheses in Excel, we can modify option 'c' to use cell references instead. For example, if the gross pay is in cell A1 and the tax rate is in cell B1, the formula would be =A1 * (1 - B1). This would give you the amount after taxes have been deducted. Remember that in the context of Excel formulas, the asterisk (*) represents multiplication and the dash (-) represents subtraction.
Please ensure that the tax rate is input as a decimal in the formula. For instance, if the tax rate is 30%, it should be entered as 0.30 for accurate calculation.