A lookup approach.

=IF(A3="N",VLOOKUP(E3,{0,0.0196;2,0.04;10,0.0612;2 0,0.0833},2),IF(A3="Y",VLOOKUP(E3,{0,0.0196;1,0.02 73;2,0.0554;10,0.0766;20,0.0987},2),"Invalid Data"))

The lookup tables (data inside of the braces { }) could be put elsewhere,
then you could just reference the tables - it would be easier to update.

For example, H1:I4
0 0.0196
2 0.04
10 0.0612
20 0.0833

Then the first part of the formula changes to:
=IF(A3="N",VLOOKUP(E3,H1:I4,2)...........


"barnabas" wrote:

I've studied other nested IF posts and can't figure out how to use Vlookup or
a named range on sheet2 to solve my problem. I've accomplished the task but
very clumsily. There are 8 nested IFs so have to use two cells because of the
7 limit.

The spreadsheet is to determine the vacation factor for each employee based
on full time or part time status and years of service.

A3= "N" or "Y" (Full time? yes or no)
E3= years of service
F3: IF(L3,L3,M3) (this is the factor column)
L3:
=IF(AND(A3="N",E30,E3<2),0.0196,
IF(AND(A3="N",E31.9999,E3<10),0.04,
IF(AND(A3="N",E39.9999,E3<20),0.0612,
IF(AND(A3="N",E320),0.0833,M3))))
M3:
=IF(AND(A3="Y",E30,E3<1),0.0196,
IF(AND(A3="Y",E30.9999,E3<2),0.0273,
IF(AND(A3="Y",E31.9999,E3<10),0.0554,
IF(AND(A3="Y",E39.9999,E3<20),0.0766,0.0987))))