I'm trying to build a percentage calculation for my commission splits.
For example, if I make $150,000 a year in commissions, my brokerage charges me 20% on the first $54,000 I earn. Then, they change me 6% on the next $50,000. Once I hit $104,000, they start charging me 1%.
The best logical sentence I've come up with for this is the following. Unfortunately, I cannot for the life of me understand how this fits in an if/then equation. Please help.
If X is less than or equal to 54000, then X x 20%.
If X is less than or equal to 104000, then 54000 is charged at 20% + the remainder is charged at 6%.
If X is greater than 104000, then 54000 is charged at 20% + 50000 charged at 6% + the remainder charged at 1%
How can I put all of this into a single formula?
Thanks.
Michael
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