SOLVED

Need help with formula

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New Contributor

I have a column totaling and it is currently 31,130, I need to figure 5% of the first 25,000, and then 2% for 25,001 and up, and add these two numbers together for a total.  What formula can I use to calculate this. 

2 Replies
best response confirmed by Grahmfs13 (Microsoft)
Solution
I just figured it out with an if statement. =IF(I4<25000,I4*5%,(25000*5%)+(I4-25000)*2%) So if I4 is less than 25,000 then it will multiply I4 * 5%, if false it will multiply 25,000 * 5%, then deducted 25000 from the total in i4 and multiply the difference by 2%.

@SherDurkee 

As variant

=I4*5%+MAX(0,I4-25000)*2%