I have no idea where to begin or if it is even possible in excel to complete. I work for a mortgage company and we are looking to create a form (chart or even just field of cells) that we can use to determine max loan amount based on total acquisition cost. Here is a breif explanation of what I need..
Sales price/Lot cost
+ hard costs/cost to construct
+ soft costs
_____
= Total acquisition cost.
Based on Acquisition cost:
If acquisition cost is <= 1250000, multiply acquisition cost by 80%
If acquisition cost is > 1250000, and <= 2000000, multiply acquisition cost by 75%; If the answer is <1000000, round number up to 1000000; ONLY WHEN MULTIPLIED BY 75%
If acquisition cost is > 2000000, and <= 2857100, multiply acquisition cost by 70%; If the answer is <1500000, round number up to 1500000; ONLY WHEN MULTIPLIED BY 70%
If acquisition cost is > 2857100, and <= 4615300, multiply acquisition cost by 65%; If the answer is < 2000000, round number up to 2000000; ONLY WHEN MULTIPLIED BY 65%
So, if the AC is multiplied by 75% and comes out to be less than 1500000, i do not want it to be rounded up to 1500000 because this rounding up only applies to when multiplied by 70%. Example: AC is $1,672,000. Excel does multiply by 75% like it is supposed to, but because the result ends up $1,254,000, excel is pulling the rule applied specifically for 70%, and rounding it up....
I'm so confused! Help please!
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