I am trying to do the following:

I have entered a formula in which the results must be greater than or equal
to 5. If it is less than 5 I want the cell to have a "5" and if it is
greater or equal to 5 I would like the actual result of the equation to be
displayed. This is what I have so far:

=IF(D8/(60*I8)<5, 5, (D8/60*I8))

This isn't working out for me. I know I could have the formula calculate
the result in one cell and place my "IF" statement in another, but I am
trying to condense my already complicated spreadsheet. Any and all
suggestions are appreciated! =)