Needing help with an IF statement

New Contributor

I need a formula to calculate a cell - if the amount is less than 7,000.00, then multiply it by .006, if = to or >7,000 then it should be 42.00.

 

I have very little experience with IF statements and would appreciate any help. 

4 Replies

@Gina_Jennings 

Let's say the amount is in cell A2. In another cell, say B2, enter the formula

 

=MIN(A2*0.006,42)

 

The formula multiplies A2 with 0.006. If the result is less than 42 (which is the case if A2 is less than 7000), the formula returns that result, otherwise it returns 42.

If I understand what you are asking, then I believe this is what you are looking for:
=IF(A1<7000,A1*0.006,42)

But, I believe MIN also works for what you are trying to do:
=MIN(A1*0.006,42)

@Hans Vogelaar 

 

Thank you!

@JMB17 

 

Thank you!!