IF function Help Needed - Keep getting too many argurments error

Hello, trying to get a nested IF statement working. I know the max is 7 nested IF arguments, but mine does not go over the limit. Trying to figure out how to work around error message.

This is the formula I want to use:

=IF(DZ7="Mkt",CN7,IF(DZ7="Hold",CI7,IF(LEFT(DZ7,3)="Cap",(1+RIGHT(DZ7,3))*CN7,"--",IF(LEFT(DZ7,3)="Drp",(1-RIGHT(DZ7,3))*CN7,"--"))))

I keep getting a message that there are too many arguments, can anyone assist?

Thanks for the help

Thanks for the response TMS. That formula does work, but it does not do what I need it to. When ="Cap" I want excel to calculate (1+Right(DZ7,3))*CN7 and when it ="Drp" I want excel to calculate (1-Right(DZ7,3))*CN7.

Would you know how to make that work?

Thanks again!