Robert wrote:
On Tue, 11 Jan 2005 14:56:22 -0800, "Tim C"
wrote:


Oops.

=A1*0.06+MIN(A1*0.01,50)

Tim C


Thanks Tim,

The formula works without a doubt, yet the internal mathematics have
me perplexed. According to Excel's Help files, the MIN Returns the
minimum value in a list of arguments. The optional argument, 50,
returns 50. Please clarify your approach.



The MIN portion of the formula returns the smallest of the numbers
between A1*.01 and 50 (which is 5000 *.01, in this way you are only
calculating 7% tax up to $5000).