Can a cell be formulated to reflect a value based on the following situation?

Cell C5 is $34000.00; the first $1600.00 of that amount + the value of C7
needs to be multiplied * 2.25%. That value will be in cell C10. ALSO,
Cell C5 is $34000.00; the second $1600.00 up to $3200.00 needs to be
multiplied * 2.75%. That value will be in cell C11.

EXAMPLE: $34000.00
1st level 1600.00 * 2.25% = $36.00
2nd level 1600.00 * 2.75% = $44.00

ANOTHER EXAMPLE: $3000.00
1st level 1600.00 * 2.25% = $36.00
2nd level 1400.00 * 2.75% = $38.50

I am using Excel 2003 version.