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#1
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Do I need nested IF statements?
I am trying to calculate a 401(k) match of $0.25 on each $1 the first 4% of
contributions ( and also show impact of alternative formulas. 1. My match formula doesn't work exactly because the contribution percentages were calculated: the formated contribution rate shows 2% but the formula gives .25 to some and .50 to others because of the decimals behind the rate. 2. I would like to create a formula which looks at the contribution rate and calculates the match as .25*ytd contribution if 1% rate, .50 *contrib if 2%, .75*contrib if 3% and 1.00 on only the first 4% if the contribution is 4% or higher. Other than sorting in ascending order, and doing a simple multiplication for all the 1's, then 2's, etc. is there an IF formula I can use to make this easier? Jaramya |
#2
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Jaramya,
Why not use one of the ROUND functions (ROUND,ROUNDUP,ROUNDDOWN) on the rate so you only use a whole number? Example: ROUND(rate,0) Good luck, Tom Hayakawa "Jaramya" wrote: I am trying to calculate a 401(k) match of $0.25 on each $1 the first 4% of contributions ( and also show impact of alternative formulas. 1. My match formula doesn't work exactly because the contribution percentages were calculated: the formated contribution rate shows 2% but the formula gives .25 to some and .50 to others because of the decimals behind the rate. 2. I would like to create a formula which looks at the contribution rate and calculates the match as .25*ytd contribution if 1% rate, .50 *contrib if 2%, .75*contrib if 3% and 1.00 on only the first 4% if the contribution is 4% or higher. Other than sorting in ascending order, and doing a simple multiplication for all the 1's, then 2's, etc. is there an IF formula I can use to make this easier? Jaramya |
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