Question
In cell O2 enter a formula using IF function to calculate the maximum amount of 401(k) contributions that the company will match for an employee.
In cell O2 enter a formula using IF function to calculate the maximum amount of 401(k) contributions that the company will match for an employee. The company's 401(k) matching plan is based on an employee's year of service (shown in column M). Use the following parameters and noted reference types when creating tis formula: a). If the employee has a Years Service field value greater than or equal to 15, the Max 401(k) company Match amount is calculated by multiplying the employee's current salary by the value in cell T3 b) If the employee does not have a Years of Service field value greater than or equal to 15, the Max 401(k) Company Match amount is calculated by multiplying the employee's Current Salary by the value in T4. c). Use structured references to the Years Service and current salary fields and absolute references to cells T3 and T4. Note : T3 =7.00% on excel T4 = 4.00%
fr =IF(M2>20,2,(IF(M2>15,1,0))) M M Years Service N Bonus Week P R S o Vision Plan Cost T O Max 401(k) Company Matc - Medical Cost 2 22.7 21.7 20.7 20.7 20.7 18.7 BRUXELLEXARXER Variables: 401(k) Matching Plans FT PT 2 2 2. 840 360 540 840 360 540 7.00% 4.00% 2 Years service as of: 2014-09-01 1Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started