Excel Formula, combining two IF statements

In general, it's good practice to arrange your IF statements into an IF, THEN, ELSE (If not) order. For instance,

If C7>=70

Then C7*0.5

Else (If not, then) C7*0.65

This always translates well to the IF function in Excel, which is IF("If" condition, "Then" condition, "Else" condition) or =IF(C7>=70,C7*0.5,C7*0.65)

Just be aware that it will always follow the first condition that meets the criteria, in this case multiplying it by 0.5.

Also take a look at IFS, which is good for multiple IF statements. The format is the condition followed by the action, followed by a new condition and subsequent action and on and on. For example,

=IFS(C7>70,C7*0.5,C7>60,C7*0.65,C7>50,C7*.73,C7>40,C7*.78,TRUE,C7*.82) (Where the "TRUE" will catch all cases that don't meet the other criteria).

Good luck!