Revised formula question

[Sharon D.]

I guess I haven't explained my first questions very well. The answer will vary depending on what amount the formula is being calculated against. The answer will not always be same. I need to have a formula that calculates commission on the first $1500 and not any additional money on anything over $1500. So if a person raises $1300. The percentage is .034 - the commission would be $44.20.

If a person raises 1500. the percentage is still .034 the commission would be $51.00.

If the person raises 1600, the percentage is .034 for the first $1500 and the commission is still $51.00 because he doesn't get paid on the extra $100 over

I need a formula that calcuates commission of the first $1500 and not any additional money on anything over $1500.

[y_not]

Something like

=IF(A1>1500,1500,A1)*0.034

[JE McGimpsey]

One way:

=0.034*MIN(A1,1500)

In article <[email protected]>,
Sharon D. <[email protected]>
wrote:

> I guess I haven't explained my first questions very well. The answer
> will vary depending on what amount the formula is being calculated
> against. The answer will not always be same. I need to have a formula
> that calculates commission on the first $1500 and not any additional
> money on anything over $1500. So if a person raises $1300. The
> percentage is .034 - the commission would be $44.20.
>
> If a person raises 1500. the percentage is still .034 the commission
> would be $51.00.
>
> If the person raises 1600, the percentage is .034 for the first $1500
> and the commission is still $51.00 because he doesn't get paid on the
> extra $100 over
>
> I need a formula that calcuates commission of the first $1500 and not
> any additional money on anything over $1500.

[Brad]

=min(1500,a3)*.034

hth

"Sharon D." wrote:

>
> I guess I haven't explained my first questions very well. The answer
> will vary depending on what amount the formula is being calculated
> against. The answer will not always be same. I need to have a formula
> that calculates commission on the first $1500 and not any additional
> money on anything over $1500. So if a person raises $1300. The
> percentage is .034 - the commission would be $44.20.
>
> If a person raises 1500. the percentage is still .034 the commission
> would be $51.00.
>
> If the person raises 1600, the percentage is .034 for the first $1500
> and the commission is still $51.00 because he doesn't get paid on the
> extra $100 over
>
> I need a formula that calcuates commission of the first $1500 and not
> any additional money on anything over $1500.
>
>
> --
> Sharon D.
> ------------------------------------------------------------------------
> Sharon D.'s Profile: http://www.excelforum.com/member.php...o&userid=29841
> View this thread: http://www.excelforum.com/showthread...hreadid=495492
>
>

[JR]

....The IF formula below is the only thing that will work. the "MIN" formulas
mentioned will hold the sales value at 1500.

"y_not" wrote:

>
> Something like
>
> =IF(A1>1500,1500,A1)*0.034
>
>
> --
> y_not
> ------------------------------------------------------------------------
> y_not's Profile: http://www.excelforum.com/member.php...o&userid=19947
> View this thread: http://www.excelforum.com/showthread...hreadid=495492
>
>

[JE McGimpsey]

Huh?

The IF and MIN formulae return exactly the same results. Did you try
them?

In article <[email protected]>,
"JR" <[email protected]> wrote:

> ...The IF formula below is the only thing that will work. the "MIN" formulas
> mentioned will hold the sales value at 1500.

[Ron Rosenfeld]

On Thu, 22 Dec 2005 07:39:02 -0800, "JR" <[email protected]> wrote:

>...The IF formula below is the only thing that will work. the "MIN" formulas
>mentioned will hold the sales value at 1500.

Why do you write that?

The MIN formula will return the lesser of the sales value or 1500, which is
what the OP wrote she wanted.
--ron

[David Biddulph]

"JR" <[email protected]> wrote in message
news:[email protected]...

> "y_not" wrote:
> > Something like
> >
> > =IF(A1>1500,1500,A1)*0.034

> ...The IF formula below is the only thing that will work. the "MIN"
formulas
> mentioned will hold the sales value at 1500.

???
--
David Biddulph

[JR]

....I tried the MIN and found that it doesn't account for amounts under 1500.
If you had say, 1385, instead of giving you 1385*.034, it would give you
1500*.034.

"JE McGimpsey" wrote:

> Huh?
>
> The IF and MIN formulae return exactly the same results. Did you try
> them?
>
> In article <[email protected]>,
> "JR" <[email protected]> wrote:
>
> > ...The IF formula below is the only thing that will work. the "MIN" formulas
> > mentioned will hold the sales value at 1500.
>

[JR]

Sorry guys, I must have typed it incorrectly... it does work. At any rate,
Sharon will never know that either of them works until she tries it.

"JE McGimpsey" wrote:

> One way:
>
> =0.034*MIN(A1,1500)
>
> In article <[email protected]>,
> Sharon D. <[email protected]>
> wrote:
>
> > I guess I haven't explained my first questions very well. The answer
> > will vary depending on what amount the formula is being calculated
> > against. The answer will not always be same. I need to have a formula
> > that calculates commission on the first $1500 and not any additional
> > money on anything over $1500. So if a person raises $1300. The
> > percentage is .034 - the commission would be $44.20.
> >
> > If a person raises 1500. the percentage is still .034 the commission
> > would be $51.00.
> >
> > If the person raises 1600, the percentage is .034 for the first $1500
> > and the commission is still $51.00 because he doesn't get paid on the
> > extra $100 over
> >
> > I need a formula that calcuates commission of the first $1500 and not
> > any additional money on anything over $1500.
>

[JE McGimpsey]

Then you entered either the formula or the 1385 incorrectly. Did you by
chance enter:

=MIN(A1, 1500*0.034)

instead of

=MIN(A1, 1500) * 0.034

????



In article <[email protected]>,
"JR" <[email protected]> wrote:

> ...I tried the MIN and found that it doesn't account for amounts under 1500.
> If you had say, 1385, instead of giving you 1385*.034, it would give you
> 1500*.034.

[pinmaster]

I think you have your cell formatted as "percentage", format your cell as Currency or Accounting.

JG