How about:

=ROUND(A3/0.00125,0)*0.00125

=ROUND(A3/(0.01/8),0)*(0.01/8)

No need to install anything.

Regards,
KL


"Ron Green" <Ron wrote in message
...
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%.