The formula that will calculate the total number of individuals who earn less than ₦500,000 from the table as shown in Figure 3 is COUNTIF(E2:E5, "< 500,000").The COUNTIF function counts the number of cells that contain a specific value in a range. In this case, we want to count the number of cells in the E column that contain a value less than ₦500,000. The E column contains the net salaries of the individuals. Therefore, the COUNTIF function will return the total number of individuals who earn less than ₦500,000.