Having a field calculate based on two other fields, one word one number.

So, premise:

Column A has a number, currency 2 digits ($543.21 for example)
Column B has an identifying word. Let's just say Apple, Banana, Carrot or Donut.

In column C, I'd like to wrangle something like this:

If B1 = Apple, then C1=A1*.02
If B1 = Banana, then C1=A1*.03
If B1 = Carrot, then C1=A1*.04
If B1 = Donut, then C1=A1*.05

Disclaimer: I'm completely useless with pivot tables, I've tried to learn them, it seems to be a blind spot in my brain, so let's try and avoid those if possible...

If there's a way it could be done with added columns or extra hoops, I'm open to that, I just tried to state it in the most simplistic way I could think of. Any help would be appreciated!

Cool, just wanted to confirm how the commas & parenthesis panned out. Thanks!