BJ,
I've tried your equation...but I can't seem to get past the first part. I
have to calculate insurance premiums to pay, based on the $ amount of our
estimates to perform work. Insurance rate is based on a sliding scale:

First 2,500,000 = $3.60 per $1,000
2nd 2,500,000 = $3.20 per $1,000
3rd 2,500,000 = $2.80 per $1,000
over 7,500,000 = $2.00 per $1,000

I used your calculation below, and replaced the percentage points with the
$/1000 above. But I am not getting the correct amount. I've also tried the
MIN calculation. Both would be helpful.

--
MANY THANKS!


"bj" wrote:

The format of your equation is wrong, try
=IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03))

or simpler
= A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01


"Kentucky Insurance" wrote:

Using Excel XP. Trying to determine commissions that are on a sliding scale.
Excel will not let me use a calculation as an answer in "value if true" or
"value if false".
Example of commissions:
5% of first $25,000 premium
4% of next $50,000 premium
3% of remaining premium
Here is the IF formula I used:
=IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]"))
The IF function itself seems to work, but instead of calculating using the
value entered in cell A2, it just regurgitates the whole equation.
Sorry for such a technical question. Thanks for any help.