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Default Multiple IF Function

I am trying to calculate accrued vacation. Our employees accrue 6.667
hours/month. For someone who has more than one year of service, I have the
following formula:

=(IF(U11,MONTH(E8)*6.667,U1*6.667)-6.6667)

U1 = Years of service
E8 = TODAY()

I need to add a nested function to the above which would calculate the
accrual if Cell U1 is <1. Can anybody help?



 
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