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Solved: Need a formula for Excel

Discussion in 'Business Applications' started by steveginthekeys, Sep 26, 2008.

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  1. steveginthekeys

    steveginthekeys Thread Starter

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    Sep 26, 2008
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    Can someone give me the formula to solve the following problem.

    I need 5% of a number until the total reaches 5000 then I need 2.5% of everything over that amount.

    Example:

    150000 should equal 6,250

    The first 100000*5% would equal 5000
    everything over 5000 is taxed at 2.5% so
    50,000 * 2.5% = 1,250

    Thanks for your help.
     
  2. computerman29642

    computerman29642

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    Dec 4, 2007
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    Steve, welcome to the forum. :)

    Could you attach a spreadsheet with dummy data showing what you are trying to achieve?
     
  3. WhitPhil

    WhitPhil Gone but never forgotten Trusted Advisor

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    =IF(A1 <100000.01,A1*0.05,5000+(A1-100000)*0.025)

    IE if A1 is 100000 or less the value in the cell will be A1*.05
    Otherwise the value in the cell is 5000 plus (A1 - 100000) * .025
     
  4. steveginthekeys

    steveginthekeys Thread Starter

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    Thank you so much for taking time to respond. As I sat tonight and thought about it I finally got all the symbols in the right place and came up with the following If statement.

    =IF(D20>100000,(((D20-100000)*0.025)+5000),(D20*0.05))

    Total brain freeze!

    Thanks again for your offer to help
     
  5. steveginthekeys

    steveginthekeys Thread Starter

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    Thank you so much for your help!!
     
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