Solved: Need a formula for Excel

Status
This thread has been Locked and is not open to further replies. Please start a New Thread if you're having a similar issue. View our Welcome Guide to learn how to use this site.

steveginthekeys

Thread Starter
Joined
Sep 26, 2008
Messages
3
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.
 
Joined
Dec 4, 2007
Messages
2,895
Steve, welcome to the forum. :)

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

WhitPhil

Gone but never forgotten
Trusted Advisor
Joined
Oct 4, 2000
Messages
8,684
=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
 

steveginthekeys

Thread Starter
Joined
Sep 26, 2008
Messages
3
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
 
Status
This thread has been Locked and is not open to further replies. Please start a New Thread if you're having a similar issue. View our Welcome Guide to learn how to use this site.

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

As Seen On
As Seen On...

Welcome to Tech Support Guy!

Are you looking for the solution to your computer problem? Join our site today to ask your question. This site is completely free -- paid for by advertisers and donations.

If you're not already familiar with forums, watch our Welcome Guide to get started.

Join over 807,865 other people just like you!

Latest posts

Members online

Top