The parenthesis after "0" is out of place. Also, you are mixing numbers and
text, which is certain to cause you problems. Try the following:
=IF(I8=1,0,IF(AND(F3=1,I8=4),48%,IF(AND(F3=1,I8=3) ,53%,IF(AND(F3=1,I8=2),60%,IF(AND(F3=2,I8=4),65%,I F(AND(F3=2,I8=3),70%,IF(AND(F3=2,I8=2),70%)))))))

You don't say what happens if none of the above are true, which I left for
you to fix.

Regards,
Fred

"Wildwood" wrote in message
...
Please help......this formula is returning a Value error.......what is
wrong?

=IF(I8="1","0"),IF(AND(F3="1",I8=4),"48%",IF(AND(F 3="1",I8=3),"53%",IF(AND(F3="1",I8=2),"60%",IF(AND (F3="2",I8=4),"65%",IF(AND(F3="2",I8=3),"70%",IF(A ND(F3="2",I8=2),"70%"))))))