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#1
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"IF" function: Can a calculation be an answer? help plz
Using Excel XP. Trying to determine commissions that are on a sliding scale.
Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#2
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The format of your equation is wrong, try
=IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#3
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You absolutely rock, a true asset to this forum.....:thumbup:
"bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#4
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#5
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
BJ,
I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#6
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Try this:
Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#7
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
oops!
Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#8
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Hello, Biff,
Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#9
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Try this one to get premium due.
=LOOKUP($A$2,{0,250000.01,5000000.01,7500000.01},{ 3.6,3.2,2.8,2})*$A$2/1000 Gord Dibben MS Excel MVP On Sun, 15 Oct 2006 13:58:01 -0700, FMWGARY wrote: Hello, Biff, Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#10
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Hi, Gord,
Almost there....but not quite. Checked out your answer. Used 2,500,000 in A2, (assuming proposal was for $2.5M). I know this result would be $9000 premium due (2,500,000/1000)*.3.6. Your equation gave me $8,000 (incorrect) I went further and and used a hypothetical Proposal of $2,750,000. The first 2,500,000 of this = $9000 the next 2,500,000 is rated at $3.20/1000. Which is would be calculated on the difference between proposal amont of $2,750,000 - 2,500,000 = 250,000/1000 = 250 X 3.2 = $800 Total premium due = $9,800.00 Using your calculation, I get a result of $9,900.00 I've plugged in various other numbers in A2 and again,not getting correct result. (BTW, in order to accurately calculate premium based on proposal <$2,500,000, I have to delete the "0" in your formula, which does give me correct premium, as it picks up the $3.60/$1000 premium rate.) I'm working on it...see if we can both arrive at the correct formula using lookup. Thanks so much. FMW MANY THANKS! "Gord Dibben" wrote: Try this one to get premium due. =LOOKUP($A$2,{0,250000.01,5000000.01,7500000.01},{ 3.6,3.2,2.8,2})*$A$2/1000 Gord Dibben MS Excel MVP On Sun, 15 Oct 2006 13:58:01 -0700, FMWGARY wrote: Hello, Biff, Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#11
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Biff gave you the link to John McGimpsey's web page where John gives very
detailed instructions on how to solve a problem such as yours. Try this formula and see if it works for you: =SUMPRODUCT((A2{0,2500000,5000000,7500000})*(A2-{0,2500000,5000000,7500000})*{0.0036,-0.0004,-0.0004,-0.0008}) -- HTH, RD ================================================== === Please keep all correspondence within the Group, so all may benefit! ================================================== === "FMWGARY" wrote in message ... Hi, Gord, Almost there....but not quite. Checked out your answer. Used 2,500,000 in A2, (assuming proposal was for $2.5M). I know this result would be $9000 premium due (2,500,000/1000)*.3.6. Your equation gave me $8,000 (incorrect) I went further and and used a hypothetical Proposal of $2,750,000. The first 2,500,000 of this = $9000 the next 2,500,000 is rated at $3.20/1000. Which is would be calculated on the difference between proposal amont of $2,750,000 - 2,500,000 = 250,000/1000 = 250 X 3.2 = $800 Total premium due = $9,800.00 Using your calculation, I get a result of $9,900.00 I've plugged in various other numbers in A2 and again,not getting correct result. (BTW, in order to accurately calculate premium based on proposal <$2,500,000, I have to delete the "0" in your formula, which does give me correct premium, as it picks up the $3.60/$1000 premium rate.) I'm working on it...see if we can both arrive at the correct formula using lookup. Thanks so much. FMW MANY THANKS! "Gord Dibben" wrote: Try this one to get premium due. =LOOKUP($A$2,{0,250000.01,5000000.01,7500000.01},{ 3.6,3.2,2.8,2})*$A$2/1000 Gord Dibben MS Excel MVP On Sun, 15 Oct 2006 13:58:01 -0700, FMWGARY wrote: Hello, Biff, Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#12
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Hi
One way =MIN(A1,2500000)*3.6%+ MIN(MAX(0,A1-2500000),2500000)*3.2%+ MIN(MAX(0,A1-5000000),2500000)*2.8%+ MIN(MAX(0,A1-7500000))*2% -- Regards Roger Govier "FMWGARY" wrote in message ... Hi, Gord, Almost there....but not quite. Checked out your answer. Used 2,500,000 in A2, (assuming proposal was for $2.5M). I know this result would be $9000 premium due (2,500,000/1000)*.3.6. Your equation gave me $8,000 (incorrect) I went further and and used a hypothetical Proposal of $2,750,000. The first 2,500,000 of this = $9000 the next 2,500,000 is rated at $3.20/1000. Which is would be calculated on the difference between proposal amont of $2,750,000 - 2,500,000 = 250,000/1000 = 250 X 3.2 = $800 Total premium due = $9,800.00 Using your calculation, I get a result of $9,900.00 I've plugged in various other numbers in A2 and again,not getting correct result. (BTW, in order to accurately calculate premium based on proposal <$2,500,000, I have to delete the "0" in your formula, which does give me correct premium, as it picks up the $3.60/$1000 premium rate.) I'm working on it...see if we can both arrive at the correct formula using lookup. Thanks so much. FMW MANY THANKS! "Gord Dibben" wrote: Try this one to get premium due. =LOOKUP($A$2,{0,250000.01,5000000.01,7500000.01},{ 3.6,3.2,2.8,2})*$A$2/1000 Gord Dibben MS Excel MVP On Sun, 15 Oct 2006 13:58:01 -0700, FMWGARY wrote: Hello, Biff, Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#13
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Thank you very much! Yes, those details worked perfectly...my mistake was
that I was not putting in the "differentials" in the correct order! Thank you, again. -- MANY THANKS! "RagDyeR" wrote: Biff gave you the link to John McGimpsey's web page where John gives very detailed instructions on how to solve a problem such as yours. Try this formula and see if it works for you: =SUMPRODUCT((A2{0,2500000,5000000,7500000})*(A2-{0,2500000,5000000,7500000})*{0.0036,-0.0004,-0.0004,-0.0008}) -- HTH, RD ================================================== === Please keep all correspondence within the Group, so all may benefit! ================================================== === "FMWGARY" wrote in message ... Hi, Gord, Almost there....but not quite. Checked out your answer. Used 2,500,000 in A2, (assuming proposal was for $2.5M). I know this result would be $9000 premium due (2,500,000/1000)*.3.6. Your equation gave me $8,000 (incorrect) I went further and and used a hypothetical Proposal of $2,750,000. The first 2,500,000 of this = $9000 the next 2,500,000 is rated at $3.20/1000. Which is would be calculated on the difference between proposal amont of $2,750,000 - 2,500,000 = 250,000/1000 = 250 X 3.2 = $800 Total premium due = $9,800.00 Using your calculation, I get a result of $9,900.00 I've plugged in various other numbers in A2 and again,not getting correct result. (BTW, in order to accurately calculate premium based on proposal <$2,500,000, I have to delete the "0" in your formula, which does give me correct premium, as it picks up the $3.60/$1000 premium rate.) I'm working on it...see if we can both arrive at the correct formula using lookup. Thanks so much. FMW MANY THANKS! "Gord Dibben" wrote: Try this one to get premium due. =LOOKUP($A$2,{0,250000.01,5000000.01,7500000.01},{ 3.6,3.2,2.8,2})*$A$2/1000 Gord Dibben MS Excel MVP On Sun, 15 Oct 2006 13:58:01 -0700, FMWGARY wrote: Hello, Biff, Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
#14
Posted to microsoft.public.excel.worksheet.functions
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"IF" function: Can a calculation be an answer? help plz
Roger,
Thank you, for the formula. I keeping the MIN way of figuring out my sliding scales. Appreciate your help. Hope I can return favor to users. Thank you, FMW "Roger Govier" wrote: Hi One way =MIN(A1,2500000)*3.6%+ MIN(MAX(0,A1-2500000),2500000)*3.2%+ MIN(MAX(0,A1-5000000),2500000)*2.8%+ MIN(MAX(0,A1-7500000))*2% -- Regards Roger Govier "FMWGARY" wrote in message ... Hi, Gord, Almost there....but not quite. Checked out your answer. Used 2,500,000 in A2, (assuming proposal was for $2.5M). I know this result would be $9000 premium due (2,500,000/1000)*.3.6. Your equation gave me $8,000 (incorrect) I went further and and used a hypothetical Proposal of $2,750,000. The first 2,500,000 of this = $9000 the next 2,500,000 is rated at $3.20/1000. Which is would be calculated on the difference between proposal amont of $2,750,000 - 2,500,000 = 250,000/1000 = 250 X 3.2 = $800 Total premium due = $9,800.00 Using your calculation, I get a result of $9,900.00 I've plugged in various other numbers in A2 and again,not getting correct result. (BTW, in order to accurately calculate premium based on proposal <$2,500,000, I have to delete the "0" in your formula, which does give me correct premium, as it picks up the $3.60/$1000 premium rate.) I'm working on it...see if we can both arrive at the correct formula using lookup. Thanks so much. FMW MANY THANKS! "Gord Dibben" wrote: Try this one to get premium due. =LOOKUP($A$2,{0,250000.01,5000000.01,7500000.01},{ 3.6,3.2,2.8,2})*$A$2/1000 Gord Dibben MS Excel MVP On Sun, 15 Oct 2006 13:58:01 -0700, FMWGARY wrote: Hello, Biff, Tried your formula: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Did not work. Perhaps I was not clear in what I was requesting: In my job, we submit proposals for construction projects and if we are awarded the job, we have to pay our insurance company a premium, based on our proposal $: So, say I submit a proposal for exactly $2,500,000, ez enough to figure out (2,500,000/1000) = 2500 X $3.60 = a premium due to insurance company of: $9,000.00 I have multiple propososals, ranging from $20,000 up to and over $10,000,000. I am trying to figgure out a formula to use that will calculate the premium based on the "sliding scale" rate the insurance company has us pay: Proposal Awarded for: First 0$-$2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 So, say for instance my proposal amount in A2 = $441,883.000. Another proposal amount is $1,200,000.00 (I would insert this amount in A2). Would you give it another try, while I also try to figure it out based on on the formula you've provided. (I'm pulling my hair out!!--It's probably so obvious and I am missing it!!!) Again, MANY THANKS! "Biff" wrote: oops! Typo: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) Should be: =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.01}) Biff "Biff" wrote in message ... Try this: Based on your table: Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium A2 = premium =SUMPRODUCT(--(A2{0;25000;50000}),(A2-{0;25000;50000}),{0.05;-0.01;-0.05}) See this: http://mcgimpsey.com/excel/variablerate.html Biff "FMWGARY" wrote in message ... BJ, I've tried your equation...but I can't seem to get past the first part. I have to calculate insurance premiums to pay, based on the $ amount of our estimates to perform work. Insurance rate is based on a sliding scale: First 2,500,000 = $3.60 per $1,000 2nd 2,500,000 = $3.20 per $1,000 3rd 2,500,000 = $2.80 per $1,000 over 7,500,000 = $2.00 per $1,000 I used your calculation below, and replaced the percentage points with the $/1000 above. But I am not getting the correct amount. I've also tried the MIN calculation. Both would be helpful. -- MANY THANKS! "bj" wrote: The format of your equation is wrong, try =IF(A2<25000,A2*.05,IF(A2<75000,25000*.05+(A2-25000)*.04,25000*.05+50000*.04+(A2-75000)*.03)) or simpler = A2*.03+Min(A2,75000)*.01+min(A2,25000)*.01 "Kentucky Insurance" wrote: Using Excel XP. Trying to determine commissions that are on a sliding scale. Excel will not let me use a calculation as an answer in "value if true" or "value if false". Example of commissions: 5% of first $25,000 premium 4% of next $50,000 premium 3% of remaining premium Here is the IF formula I used: =IF(A2<25000,"[+A2*.05]",IF(A2<75000,"[(25000*.05)+((A2-25000)*.04)]","[(25000*.05)+(50000*.04)+((A2-75000)*.03)]")) The IF function itself seems to work, but instead of calculating using the value entered in cell A2, it just regurgitates the whole equation. Sorry for such a technical question. Thanks for any help. |
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