Hi everyone! New here and hoping for some help on a formula.
I'm in need of a formula to calculate commissions based on a tiered rate structure.
The tiers are:
Tier 1: between $1 to $40,000 | Commission rate is 9.23%
Tier 2: between $40,001 to $60,000 | Commission rate is 6.46%
Tier 3: between $60,001 to NO CAP | Commission rate is 1.85%
So, if the sale was for $65,000, the first $40,000 is paid at a 9.23% | the next $20,000 is paid at a 6.46% rate | anything in excess of $60,000 is paid at a 1.85% rate.
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