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.