Worksheet change event to Formulate Cells for multiple Ranges

How would one go about setting this up so that if I enter a number in the L column, columns M and N in the same row will automatically be formulas. Likewise if I enter a number in the M column, columns L and N for that particular row will automatically change to formulas.

For example in detail I enter the value $0.25 in cell L7. The formula in M7 should be "=IF(L7<>"",L7*$L$2,"")", and N7 "=IF(M7<>"",M7/$M$4,0)".
If I enter the value $50 in say cell M8, the formula in L8 should be "=IF(M8<>"",M8/$L$2,"")", and N8 "=IF(M8<>"",M8/$M$4,0)".
and finally..
If I enter the value 5% in cell N7. The formula in L7 should be "=IF(M7<>"",M7/$L$2,"")", and M7 "=IF(N7<>"",N7*$M$4,"")".

I need the change events to work relatively within each row. From Rows 7 to 13.

I've attached a worksheet to kind of show what I'm looking at.

Thanks in advance I hope I was clear enough!

@ Mallycat,

Nice work Mallycat! Waht is?

Chr(34)

Chr(34) is the code to create a quote mark "

When building a formula in VBA that you want to add to a cell in a sheet, you can't add " in the formula, as this is used by the VBA code itself, so you have to use chr(34) everywhere you want a " to appear in the final formula.

@ Mallycat,

Thank you for clarifying that for me, however, I have changed it with the ", and it works fine! I think you could do this quite safely when one uses the Ampersand. It might be an entirely different case when a " is required without the Ampersand.

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Thanks. I didn't know that.

Man you guys are great thanks for all your help! Mallycat's version works perfect you are GENIUS! When I tried Winon's version of the code I couldn't get it to work though? Winon are you sure your code worked for you maybe I'm doing something wrong?

Either way I appreciate both of you thanks!

Hey trickyricky. I have lots of friends in the USA. None in Kansas though, but I could always click the heels of my red shoes together, and wish for something special. :-)