How do I write an IF formula for the following statements?
**July’s budgeted expenses are based on the differences between the budgeted and actual expenses for June stored in column D. July’s budgeted expenses will be the same as those for June when the difference is greater than or equal to 0, otherwise they will be 30% more.**
**Tax deductions are calculated by multiplying 15% by the weekly pay when the salary is less than $30,000, and 28% by the weekly pay when the salary is equal to or higher than $30,000.**
To write an IF formula for the given statements, you can follow these steps:
1. For the first statement:
You need to compare the difference between the budgeted and actual expenses for June (stored in column D) with zero. If the difference is greater than or equal to zero, July's budgeted expenses will be the same as those for June. Otherwise, they will be 30% more.
The IF formula for this can be written as:
```
=IF(D1 >= 0, D1, D1 * 1.3)
```
Assuming the June's budgeted expenses are stored in cell D1, you can update the cell reference accordingly.
2. For the second statement:
You need to compare the salary with $30,000. If the salary is less than $30,000, tax deductions are calculated by multiplying 15% by the weekly pay. Otherwise, tax deductions are calculated by multiplying 28% by the weekly pay.
The IF formula for this can be written as:
```
=IF(A1 < 30000, A1 * 0.15, A1 * 0.28)
```
Assuming the salary is stored in cell A1, you can update the cell reference accordingly.
Remember to adjust the cell references based on your specific data location.