IF Function
I just need a refresher on how the IF function works with 3 variables.
This is for calculating bonuses based on how many years of seniority an employee has. Example is: 1-5 years $4000 bonus 6-15 years $ 6000 bonus 15+ $10000 bonus All I can remember is by uising the IF Function, I can type =IF(E8=1,B42) where E8 is the reference to the year and B42 is an absolute reference to $4000, but that is only comparing years greater or equal to 1. How do I create a way to compare the 3 numbers? I am kinda remembering a nested IF function, but can't recall how to set it up, is there a formula table in excel for this type of thing? Hope this makes sense! Thanks for your time... |
IF Function
=IF(A1<=5,I1,IF(A1<=15,I2,IF(A115,I3,0))) Where A1 is the number of years and I1:I3 is the values (4000,6000,10000). Regards, Steve -- SteveG ------------------------------------------------------------------------ SteveG's Profile: http://www.excelforum.com/member.php...fo&userid=7571 View this thread: http://www.excelforum.com/showthread...hreadid=525373 |
IF Function
Thanks for the reply and your help!
Just another quick question though...:) When I input .5 for the years (or anything less than a year), I still get a bonus of $4000? Is the 0 at the end of the formula meant for anything other than these variables, value is 0? Thanks again... |
IF Function
I wasn't sure if anything under 1 yr would be 0 so modify the original formula slightly. =IF(A1<1,0,IF(A1<=5,I1,IF(A1<=15,I2,IF(A115,I3,0) ))) The zero at the end is if none of these conditions are met. Broken out it is: IF(A1<0 then return 0, if not then IF(A1<=5 then return value in I1, if not then IF(A1<=15 then return calue in I2, if not then IF(A115 then return the value in I3, if none of the conditions are met then return zero HTH Steve -- SteveG ------------------------------------------------------------------------ SteveG's Profile: http://www.excelforum.com/member.php...fo&userid=7571 View this thread: http://www.excelforum.com/showthread...hreadid=525373 |
IF Function
I wasn't sure if anything under 1 yr would be 0 so modify the original formula slightly. =IF(A1<1,0,IF(A1<=5,I1,IF(A1<=15,I2,IF(A115,I3,0) ))) The zero at the end is if none of these conditions are met. Broken out it is: IF(A1<0 then return 0, if not then IF(A1<=5 then return value in I1, if not then IF(A1<=15 then return calue in I2, if not then IF(A115 then return the value in I3, if none of the conditions are met then return zero HTH Steve -- SteveG ------------------------------------------------------------------------ SteveG's Profile: http://www.excelforum.com/member.php...fo&userid=7571 View this thread: http://www.excelforum.com/showthread...hreadid=525373 |
IF Function
Thank you Steve, you have been very helpful and I appreciate it
greatly! |
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