Nested If Problem, not able to solve it, any help is much appreciated

[Saril]

i am calculating commission for individuals on a monthly basis. The condition is if revenue is below $ 1.5 M, its 50% of commission %, and if revenue is between $ 1.5 M to $ 3.0 M then its 4.5% of commission % and if revenue is greater than $ 3.M then the 100% of commission %. The commission % is 3%. I have revenue forecast of $ 3 M in total and i know the commission should be @ 3% which is $ 90K, but my calculation shows $ 91950, the formula is not working when the cumulative revenue crosses from $ 1.5 M. Any help in this regard is much appreciated. I have attached the excel sheet where i was working.

[Ace_XL]

Since you have cumulative totals, why are you calculating commission at each month and adding them up? This will give you distorted results, simply calculate on year end result.

Alternative formula
=LOOKUP(D15,{0,1500000,3000000},{0.5,1,1.5})*O15

[Saril]

Thank you for your reply, i am unable to get the desired result after using the formula