calculate equation, but report a minimum value if calculation is too low

I am trying to have a cell calculate a price based on a percentage of another cell, but want to see a minimum result if the calculation results in a number too slow. For example, I want to have a permit cost 1.5% of the total cost of the materials for a job, but if that number is less than $250, I want the number $250 to show as the result.

TYIA

Chuck

You can do it like this:

=MAX(250,your_existing_formula)

Hope this helps.

Pete

Awesome, THANKS!

Chuck