Bob's is the more flexible solution, but you could do it like this:

=IF(I2="","",IF(I2=0,"Letter of Credit",IF(I2<=2.25%,"LOW
Rate",IF(I2<=5.0%,"HIGH Rate","Poor Risk"))))

Hope this helps.

Pete

On Aug 15, 5:31*pm, Stockwell43
wrote:
Hi Bob,

Couldn't I use an If statemnt in the cell and just drag it down? I am not
familiar with Excel enough to do it the way you are suggestion.

Thanks!!



"Bob Phillips" wrote:
Create a two column table elsewhere with the possible rates in one column,
loan types in the next, then use

=VLOOKUP(rate,lookup_table,2,False)

--
HTH

Bob

(there's no email, no snail mail, but somewhere should be gmail in my addy)

"Stockwell43" wrote in message
...
Hello,

My boss needs me to do an IF statment on a spreadsheet. Here is what I
need:

In the Column "Interest Rate" the cells are percentages 0.00%, 5.50%,
2.25%
and so on. In the Loan Type Column are the loan types depending on the
Percentage Rate.

What I need is this:
If Interest rate is 0.00% then Loan Tpye is "Letter of Credit"

How do I get Excel to do this if the user enters 0.00% in the interest
rate
column?

Thanks!!- Hide quoted text -

- Show quoted text -