
#1




EOM 3 Task 5 (Excel help)
Task 5 asks us to assess whether 12/17 contribution plan is appropriate, and if not, provide our own estimate.
I have a couple of questions: 1. the 12/17 refers to the 12% "up to covered earnings" and 17% "in excess of covered earnings", right? 2. When I was trying to find the rate for certain employee so that he/she could have replacement ratio of 70%, I used goal seek by selecting "By changing cells" to be the cells containing 12% and 17%, only the first cell gets changed. For example, if I select 17% first then 12%, only the 17% would change. What am I doing wrong? 3. I tried a different approach using Solver. I selected the target cell and chose "set it to" 0.7, and the cells containing 12% and 17% to "by changing cells". However, the solver returned that it could not find a solution, with all three methods of equation solving. What is wrong in this case? 4. Lastly, both "up to" and "in excess" rates are capped by 15% in total right? In other words, "up to percentage" * covered + "in excess percentage" * (pensionable  covered) must be less than 15% of earned income. Is that correct? Thanks!
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#2




1yes
2goal seek only allows 1 cell at a time as you saw. you're looking for scenario manager or solver. 3is there something wrong? 4if you're not sure about something just assume and defend the assumption. what you said seems reasonable but i forget the wording they used 
#3




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