excel 2007 formula

[STEVE THE PARTS GUY]

I need a formula to calculate a Labor dollar amount based on a labor rate of
$95.00 per hour and a shop supply charge equal to 10% of the labor dollar
amount with a minimum shop supply charge of $2.95 and a maximum of $24.95.
Example:
$95.00 x .02 Hours = $19.00.

$19.00 x 10% = $1.90 (does not meet minimum of $2.95)

$19.00 + $2.95 = $21.95 (final result)

 

[Toppers]

try:

=A1*B1+MIN(MAX(A1*B1*0.1,2.95),24.95)

A1=Rate
B1=Hours

HTH