SOLVED

Please help with Excel Formula for applying late fees

New Contributor

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 $1,000.00

3 Replies
best response confirmed by Hemant_Sharma1615 (New Contributor)
Solution

@Hemant_Sharma1615 

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))

@Hans Vogelaar was again faster than me
great solution
Thank You so much Hans Vogelaar, I really appreciate it.