Lesson: 45 | Calculating Sales Tax

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Create a formula to calculate the tax of the Amount of Opportunities

Code

IF(Amount < 10000, Amount * 0.18, Amount * 0.25)

Explanation

This formula uses an IF function, which is a logical function that allows you to perform different calculations based on whether a certain condition is true or false. The basic structure of the IF function is:

IF(condition, value if true, value if false)

In this case, the condition being tested is whether the value in the "Amount" cell is less than 10000. If it is, the formula multiplies the amount by 0.18 (or 18%) to calculate the sales tax. If the amount is not less than 10000, the formula multiplies the amount by 0.25 (or 25%) to calculate the sales tax.

So, this formula is used to calculate the sales tax on a given amount of money, with different tax rates applied depending on whether the amount is less than or equal to $10,000.

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Lesson: 45 | Calculating Sales Tax

User Story

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