# Solved IF Statement

Discussion in 'Business Applications' started by faraz28, Oct 11, 2018.

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Joined:
Oct 11, 2018
Messages:
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Hi there,

I can't figure out how to properly write an IF statement for this specific scenario. I have to calculate E.I (Employment Insurance).
E.I is 1.27% of your gross income. If my annual gross income is for example \$66'000 I'd type in the formula
=(C7*1.27)/100 (C7 is the cell with the gross income.)

The max annual you can get is \$836.19 annually. For this I have to write an IF statement.
My initial IF statement was
=(C7*1.27)/100 & IF(C7>836.19,"836.19","")
This gives me an error.

Joined:
Nov 16, 1999
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16,302
First Name:
David
What program are you trying this in?

Joined:
Nov 28, 2005
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64,184
First Name:
Chuck
Hi faraz28, and welcome to TSG.

If you are using MS-Excel, I don't understand why you are using the concatenate text function in your formula. Also, using the MIN() function is probably simpler than using an IF function.

Code:
`=MIN(C7*0.0127,836.19)`

faraz28 likes this.
4. ### etafModerator

Joined:
Oct 2, 2003
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65,356
First Name:
Wayne
gross @ 1.27% maximum payout is 836.19, so if the 1.27% is = to or greater than 836.19 , the result is 836.19 otherwise calculate the amount

in excel
=IF((c7*1.27)/100 >=836.19, 836.19, (C7*1.27)/100)

faraz28 likes this.

Joined:
Oct 11, 2018
Messages:
8
Thanks a lot for your help. It worked!

Joined:
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Joined:
Oct 11, 2018
Messages:
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I was using Excel. Sorry for not specifying.

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