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What function(s) to use?
I am trying to develop a template for researchers to use to help them develop
project budgets. I am having a problem with one particular formula and am not clear if I need to use "lookup", "match" or "if", or some combination of the the three, or something completely different. Here is the problem: Employees are given raises one time a year (either in July [Faculty change date] or October [staff change date]) depending on your status. A grant budget can start in any month of the year and will generally run for a one-year period. example: A grant starts in July and ends in June Staff current salary is 20,000 Staff increase is in October at 5% Therefore, Salary in July, August and September is 20,000 Salary starting in October is $21,000 Total salary paid for 12 month period = 20,750 or ($20,000/12*3) + ($21,000/12*9) I thought about using a nested "If" statement like below. If(GrantMonth=January and status=Faculty,CurrSal/12*6, if(GrantMonth=February and status=Faculty,CurrSal/12*5, etc.) I understand that only 7 if statements can be nested. How can I achieve my result using a formula? I don't understand how to use the lookup command. -- Karen |
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