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Default Cell Calculation

I am setting up a input sheet for fees.
I have two cells side by side: one where a dollar amount will be entered
and the other with a drop menu. I need for the dollar amounts to be
calculated based on the drop down item chosen. For example, if the dollar
amount is a financed fee, I need it to autmoatically calculate in an separate
cell called financed fees.
I think this may be an IF function but I am note sure.
Can someone help me?!
 
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