Forum Discussion
creating a fee calculator for tiered percentages of rent savings
I just re-read your original post and realized that I may have misunderstood your need. The formula I gave makes the percentage beyond 100,000 add 9%, but what you intended--I believe--is that it be 6% up to 100,000 plus 3% of the excess beyond 100,000. Is this in fact correct? If so, I'll need to correct how it works.
If this new interpretation is correct, it operates almost like the US tax tables, except that they raise the rates as one goes up the basic income ladder. You're reducing. But please confirm before we go further.
Yes, you are correct. the fee structure is 6% of the first $100,000 in savings for a max of $6000 and then an additional 3% of any amount in excess of $100,000 through $233,333 for a max of $4000 ($10,000 fee mat in total) . I'm unable to share the workbook becuase of confidentiality issues. In my current chart
cell AJ2 contains the dollar amount of rent savings and cell is the rent savings fee where I need the formula for the fee. Thanks so much for your help!
regards,
Kate