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Solved: Excel Formula

Discussion in 'Business Applications' started by pbrufladt, Dec 1, 2011.

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  1. pbrufladt

    pbrufladt Thread Starter

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    I need an excel formula that calculates rental rates at $82 per day for the first 90, $61.50 per day for next 90 days, and $45.10 per day thereafter. I have an IF statement that will calculate the first 2 rates. I just don't know how to add the third.

    Any help would be greatly appreciated.
     
  2. Ent

    Ent Trusted Advisor

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    Josiah
    Could you please post the formula that you have already?
     
  3. pbrufladt

    pbrufladt Thread Starter

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    =IF(B15>90,7380+((B15-90)*61.5),B15*82) - This takes care of the first 2 parts of the equation. I just don't know how to do the third part.
     
  4. valis

    valis Moderator

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    moving to business apps.
     
  5. Ent

    Ent Trusted Advisor

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    Well, you're almost there already. Use two if statements one inside the other. The first checks whether it is more than 180. If so it uses a similar equation to yours. If less than 180 it goes to your function to find out whether it's between 90 and 180.

    =IF(B15>180,12915+((B15-180)*45.10),IF(B15>90,7380+((B15-90)*61.5),B15*82))
     
  6. pbrufladt

    pbrufladt Thread Starter

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    THANK YOU! It works perfectly!
     
  7. Ent

    Ent Trusted Advisor

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    You're quite welcome.
     
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