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Please help with Excel Formula for applying late fees
If balance is less than $200 then 5% of the balance If balance is between $200-$1000 then total fee charged $10 $10.00 per month for the first $1,000.00 plus 5% percent for any amount in excess of ...
Let's say the balance is in cell B2. The formula for the fee is:
=IF(B2<=200, 5%*B2, 10+5%*MAX(B2-1000,0))
Let's say the balance is in cell B2. The formula for the fee is:
=IF(B2<=200, 5%*B2, 10+5%*MAX(B2-1000,0))
