=IF(K7=1,
IF(AND(A7=51),M7/1000*$N$2,M7/1000*$O$2),
IF(AND(A7=52),M7/1000*$N$3,M7/1000*$O$3),
IF(AND(A7=53),M7/1000*$N$4,M7/1000*$O$4),
IF(AND(A7=54),M7/1000*$N$5,M7/1000*$O$5))

I have two primary conditions, either a one or two and four secondary
conditions, either 51, 52, 53, or 54. So if K7 = 1 and A7 = 51 divide
M7/1000 and multiply by O2. Evidently I have too many iterations for this
to work. Is there another way to accomplish this? I am using Office 2000
and 2003.
Thanks,