I have an assignment where I am not receiving any help. My teacher wants us to do an excel project where someone makes between 24,000 and 34,000 dollars every year and they are charged 12 percent tax on their wealth in excess of 24,000 dollars; however, if their wealth is greater than 34000 they are charged 18 percent tax per the 1000 dollars they make ( I have no idea what this means).
I have tried using nested IF functions to solve this problem, however, I am not really sure where to start or what to do.
I am not trying to have anyone do my homework/project, I just sincerely need help.
Any suggestions?