I have a proposal work sheet that has a list of dollar amounts. I would like to create a formula to at 11% markup. The issue is when I add the 11% markup it changes the total. I am currently calculating in manually on a calculator several times until the amount matches. See Example below.
Markup
Item 1 $6,849.00
Item 2 $3,425.00
Item 3 $4,000.00
Total $14,274.00
The first time I calculate 11% it is $1570 - Total $15844
Next 11% is $1743 - Total $16017
Next 11% is $1762 - Total $16036
Next 11% is $1764 - Total $16038
Next 11% is $1764 - Total $16038 I am done.
The larger the number the more times it takes to get a matching number. Is there a formula to do this calculation automatically?
Thanks
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