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Financial Maths, STD1 EQ-Bank 1

A company uses the spreadsheet below to calculate the fortnightly pay, after tax, of its employees.
 

  1. Write down the formula that was used in cell D5, using appropriate grid references.   (1 mark)
  2. Hence, calculate Kim's fortnightly pay.   (2 marks)
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a.  \(=\text{B6}-\text{C6}\)

b.    \(\$3140.85\)

Show Worked Solution

a.    \(\text{Formula for Kim’s Salary after tax:}\)

\(=\text{B5}-\text{C5}\)
 

b.    \(\text{Kim’s salary after tax}\ = \$81\,662\)

\(\text{Kim’s fortnightly pay}\ = \dfrac{81\,662}{26}=\$3140.85\)