Multiple IF Formula

I am trying to write a formula for the following situation:

If C49 has a Y then calculate 225+(I49*0.2):

- If the answer is not greater than 750 then the cell should fill with 750.   

- If it is more than 750 it needs to be whatever the answer is. 

- If there isn't a N in C49, the cell should be blank.

Here is the formula I am trying that isn't working...Help Please!!

=IF(C49="Y",IF((225+(I49*0.2)>750,225+(I49*0.2),750,"")