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Please help! Having a hard time figuring this formula out

  1. #1
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    Exclamation Please help! Having a hard time figuring this formula out

    Im trying to create a calculator in excel that can do the following:

    Take the first $250 of your final value and multiply it by 6%. If your item sold for $250 or less this is the final value.
    If your final value was more than $250, take the additional amount over $250 and multiply it by 3.5%.
    Add up these amounts and that is the final value.

    For example, a $1500 item would cost:
    $250 times 6% = $15.00
    $1250 times 3.5% = $43.75
    Total = $58.75

    A $500 item would cost:
    $250 times 6% = $15.00
    $250 times 3.5% = $8.75
    Total = $23.75

  2. #2
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    Re: Please help! Having a hard time figuring this formula out

    assuming in Cell A2
    IF( A2 < = 250 , A2 * 0.06 , (250 * 0.06 ) + ((A2 - 250 )* 0.035) )
    Wayne
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  3. #3
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    Re: Please help! Having a hard time figuring this formula out

    YOU ROCK!!! Thank you so much! perfect! Thank you

  4. #4
    Forum Expert etaf's Avatar
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    Re: Please help! Having a hard time figuring this formula out

    you are welcome

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