formula of two numbers if greater than 500

[deb]

How do I create a formula that divides annual pay by 52 weeks and if the pay
is over 500 dollars for that week the answer defaults to 500.00
31,200 divided by 52 weeks equals 600.00 but I need the max number in the
field to go to 500.00 ,if the pay is over 500.00

 

[T. Valko]

If I understand:

=MIN(500,pay/52)

Biff

 

[deb]

If I have in cell c7 annual pay 31200 and in cell d7 the formula to divide
the c7by 52 to give me a weekly salary rate.
The next cell over e7 or can I have two formulas in d7 to .
I need the answer to be the weekly salary of anything less than 500 to go
into the cell and if over 500 per week the cell defaults to $500.00

Why, I need this is that I need to calculate the next formula on insurance
premiums
on weekly salary. The max the insurance will pay is 500.00 weekly

annual pay...........weekly pay...........if over 500 default to 500
CELL c7....................d7.......................e7..............
31,200 ....................600......................500.00
15,000..................288.47.....................288.47

 

[T. Valko]

Try this in D7:

=MIN(500,ROUND(C7/52,2))

Biff

If I have in cell c7 annual pay 31200 and in cell d7 the formula to divide
the c7by 52 to give me a weekly salary rate.
The next cell over e7 or can I have two formulas in d7 to .
I need the answer to be the weekly salary of anything less than 500 to go
into the cell and if over 500 per week the cell defaults to $500.00

Why, I need this is that I need to calculate the next formula on insurance
premiums
on weekly salary. The max the insurance will pay is 500.00 weekly

annual pay...........weekly pay...........if over 500 default to 500
CELL c7....................d7.......................e7..............
31,200 ....................600......................500.00
15,000..................288.47.....................288.47