I'm making a spreadsheet in excel to help me understand how starting a part-time business on top of my full time job might affect my tax. I need to do this because I'm very close to my next UK tax bracket and I want to know exactly how it might affect my finances.
As part of this I'm trying to write an excel formula that will add two numbers then check if this new number is greater than a third number. I will refer to the two numbers added together as A and the third number as B. If A is not greater than B then I will multiply by 20% to find out how much of it is owed in tax. If A is greater than B I will subtract B from A to create number C and multiply B by 20% and C by 40% and add the two together to produce the final number I need. Can someone please xplain to me how to script this in Excel? I've looked for online examples but I'm not finding the language very penetrable. If I was using a scripting language I was more familiar with the code would look like this:
float taxThreshold = 42011.00;
int income = foo;
if(taxThreshold < income)
{
float higherRate = income-taxThreshold;
float standardTaxOwed = taxThreshold * 20%;
float higherRateOwed = higherRate * 40%;
float finalTaxOwed = standardTaxOwed+higherTaxOwed;
}
else
{
float finalTaxOwed = income * 20%;
}
I'm sure this is very simple to do, I just don't get the excel syntax. Can someone show me how this should be done? You'd not only be solving this problem but also giving me a means of translating from my current scripting knowledge into excel.
The easiest way is to store your 4 input parameters in some cells - and then name them. To do so, select the cell and type a meaningful name into the field that shows the address (i.e. left of the formula bar).
Once you have done this, you can simply use this formula:
=IF(Income>Threshold,Threshold*StandardTaxRate+(Income-Threshold)*HighTaxRate,Income*StandardTaxRate)
Without the naming, the formula would be something like this:
=IF(B2>B1,B1*B7+(B2-B1)*B8,B2*B7)
Both formulas will calculate you the tax you'd need to pay. If you want it more explicit, I'd recommend a layout such as this:
The formulas would read:
C7: =IF(B2>B1,B1,B2)
C8: =IF(B2>B1,B2-B1,0)
D7: =B7*C7
D8: =B8*C8
HTH!
Related
Here is my excel table:
The cell with 8.83 = =((C8-B8)*24)-D8
*C8 = 4:50PM
*B8 = 7:30AM
*D8 = 0.50
The cell $371.00 = =(E8*B3)
Why does my total show $371.00 when B3 = $42? It should be $370.86. I don't have it set to round but for some reason it keeps on doing it.
Because, the actual result of formula =((C8-B8)*24)-D8 is 8.833333333. Due to cell formatting you are seeing 8.83. If you want result for only two digit after decimal point then use round function like-
=ROUND(((C8-B8)*24)-D8,2)
Then you will get result 370.86. Or you can directly use in resulting cell.
=ROUND(E8,2)*B3
$371 is “technically” the correct amount, mathematically. You are actually doing rounding when you are hand-calculating your cross-check, and that isn’t matching Excel’s unfounded calculation.
( 4:50pm - 7:30am ) is 9.3333333 repeating, or “9-1/3”. Divided by 24 leaves you 8.8333333 repeating, not 8.83. Excel is doing what it’s supposed to do, and 371.00 is the correct amount. If your use case calls for times to be rounded to .01 hours and no further then you’ll need to apply rounding somewhere in cell E8.
I am writing a series of queries to my workbook's data model to retrieve the number of documents by Category_Name which are greater than a certain numbers of days old (e.g. >=650).
Currently this formula (entered in celll C3) returns the correct number for a single Days Old value (=3).
=CUBEVALUE("ThisWorkbookDataModel",
"[Measures].[Count of Docs]",
"[EDD_Report].[Category_Name].&["&$B2&"]",
"[EDD_Report_10-01-18].[Days Old].[34]")
How do I return the number of documents for Days Old values >=650?
The worksheet looks like:
A B C
1 Date PL Count of Docs
2 10/1/2018 ALD 3
3 ...
UPDATE: As suggested in #ama 's answer below, the expression in step B did not work.
However, I created a subset of the Days Old values using
=CUBESET("ThisWorkbookDataModel",
"{[EDD_Report_10-01-18].[Days Old].[all].[650]:[EDD_Report_10-01-18].[Days Old].[All].[3647]}")
The cell containing this cubeset is referenced as the third Member_expression of the original CUBEVALUE formula. The limitation is now that the values for the beginning and end must be members of the Days Old set.
This is limiting, in that, I was hoping for a more general test for >=650 and there is no way to guarantee that specific values of Days Old will be in the query.
First time I hear about CUBE, so you got me curious and I did some digging. Definitely not an expert, but here is what I found:
MDX language should allow you to provide value ranges in the form of {[Table].[Field].[All].[LowerBound]:[Table].[Field].[All].[UpperBound]}.
A. Get the total number of entries:
D3 =CUBEVALUE("ThisWorkbookDataModel",
"[Measures].[Count of Docs]",
"[EDD_Report].[Category_Name].&["&$B2&"]"),
"{[EDD_Report_10-01-18].[Days Old].[All]")
B. Get the number of entries less than 650:
E3 =CUBEVALUE("ThisWorkbookDataModel",
"[Measures].[Count of Docs]",
"[EDD_Report].[Category_Name].&["&$B2&"]"),
"{[EDD_Report_10-01-18].[Days Old].[All].[0]:[EDD_Report_10-01-18].[Days Old].[All].[649]}")
Note I found something about using .[All].[650].lag(1)} but I think for it to work properly your data might need to be sorted?
C. Substract
C3 =D3-E3
Alternatively, go for the quick and dirty:
=CUBEVALUE("ThisWorkbookDataModel",
"[Measures].[Count of Docs]",
"[EDD_Report].[Category_Name].&["&$B2&"]"),
"{[EDD_Report_10-01-18].[Days Old].[All].[650]:[EDD_Report_10-01-18].[Days Old].[All].[99999]}")
Hope this helps and do let me know, I am still curious!
I'm unable to use below formula in excel
400+rate÷400×principal====
Ex.
Do this in calculator:
400+9.05÷400×10000
Now press four times the equal button. Answer is 10936.17. But I'm unable to do this in Excel. I hope someone may help me.
You don't need to write ====, just one = is enough. Also, use * and not x, use / and not ÷.
If you want the result to be 10226.25, you need some math predecessors using brackets ().
Enter this equation in a cell:
=(400+9.05)/400*10000
This gives the expected outcome:
10226.25
Whenever you press = in the calculator you are multiplying the result by the operation before it
400+9.05=409.05 you will get the result without =in the calculator if you only press ÷
409.05 ÷ 400 = 1.022625 this is the number that each time you press = will multiply the result in the calculator
you write X 10000 and first = 10266.25 first result
second = is 1.022625 X 10266.25 second result 10457.62
third = is 1.022625 X 10457.62 third result 10694.22
fourth = is 1.022625 X 10694.22 fourth result 10936.18 your outcome
In Excel you have to write:
=(((400+9.05)/400)^4)*10000 to have the same outcome
It's true that Excel can be used as a Calculator up to certain extent,, but it's not created to act like a Calc,, always remember ever calculation begins with = sign followed either by Function or data.
So finally you should write your Formula like this,
=(400+9.05) /(400×10000)
You might find a parameterised version useful:
The inputs are shown in blue, the output in F2 where the formula is:
=C2*((A2+B2)/A2)^D2
D2 is effectively the number of equals signs depressed on your calculator.
I'm very confused on how to use Microsoft Excel to simulate a "problem", but I've been assured that it's possible.
I have the equation
v(t) = (mg/c)(1-e^((-c/m)(t)))
And I know the values of m, g, k, and c.
m = 170
g = 32 ft/s^2
k = 2.5 lb/ft
c = 1.2 lb/ft/s
So my formula changes into
v(t) = (170*32/1.2)(1-e^((-1.2/170)(t)))
v(t) = (453.33)(1-e^((-.00705)(t)))
The problem is about a bungee jumper, and this is one function that I should use to find velocity, and another that is used for x (distance), but if I can learn how to properly implement this one, I should be able to easily figure out the other one.
I need to somehow implement this in Excel, as a spreadsheet simulation. I have no idea how to implement this in Excel, and I don't know the formulas to do it. I know I could just go through the formula manually and just substitute variables in for t (i.e., .5, 1, 1.5, 2, 2.5, ...), but I know there's supposed to be some way for Excel to do it for me. Additionally, I'm not sure how to simplify the powers and the "e" in my formula, and I actually don't know if I need it if I can just sub in variables like I think I can. Any help would be greatly appreciated.
EDIT: The other state equation, x(t), is below
x(t) = (mg/c)(t) + ((m^2 * g) / c^2))e^((-c/m)(t) - (m^2 * g / c^2))
This formula as mentioned in the OP:
v(t) = (453.33)(1-e^((-.00705)(t)))
needs a little adaptation, as suggested by #Tim Williams, to be suitable for Excel:
=453.33*(1-EXP(-.00705*t)
Excel does not multiply letters by numbers but will attempt to interpret t above as a named range (which may contain one or more numbers) before objecting. So t may be the name given to a range starting .5 and stepping .5 up to and including 10 (may easily be created with Fill , Series…).
If the above formula is then placed in the same row as 0.5 and copied down to suit the results should be as required.
It may however be worth noting that naming a range as a single letter is not best practice and for accuracy, convenience and versatility the constants (eg re gravity) and the variables (eg mass) would be better fed as parameters to the formula.
So I'm not good with excel (computers in general) and can do some things but this one is out of my league.
This is the problem:
The cost of a used car is highly correlated with the following variables:
t= age of car 1 ≤ t ≤ 5 (years)
V= volume of engine 1000 ≤ V ≤ 2500 (cubic centimeters)
D= number of doors D= 2,3,4,5
A= accessories and style A= 1,2,3,4,5,6 (qualitative)
Using regression analysis, the following relationship between the cost and four independent variables was found:
purchase cost= (1+1/t)*V*(D/2+A)
Plot the purchase price of the car as a function of the four variables.
I know how to input the function into excel and only use one number from each variable:
Function:
=(1+(1/B2))*C2*((D2/2)+E2
Where: B2=1, C2=1000, D2=2, E2=1
Which: A1=4000 (for the purchase cost)
What I don't know is how to make the function use multiple number combinations within those variables (i.e. how to change one variable and not the others). I've looked up "youtube" videos and numerous websites to figure this out and none of them showed me what I needed to know. Any help would be greatly appreciated.
I think you have fundamentally solved your problem but there is a typo in your formula which is preventing it from calculating. Add a closing parenthesis at the end your formula. Then assuming that the formula is placed in cell A1 and your example values are placed in the cells indicated in your post, simply type a new numeric value in B2, C2, D2 and/or E2 'manually' and your formula result will update.
If you wish you can create a dropdown list in your cells to hold the list of values for each of your variables. This link should get you going.