=MROUND(7.4,1/8)

First have to install the Analysis ToolPak, though, Tools-Add-Ins-Check
Analysis ToolPak
--
Regards,
Dave


"Ron Green" wrote:

I would like to create a formula that rounds the sum of two cells to the
nearest eighth of one percent. Specifically, Cell 1, 5.00%, plus Cell 2,
2.40%. The sum is 7.40%, but rounded to the nearest eighth it would be
7.375%.