Formulas with If/ and results

[Katiemcgi]

I am trying to create formulas in order to populate a Group Insurance
Election Form. I am having trouble with how to cap. a maximum limit if the
result of the calculation is >$9000. For example LTD Monthly benefit is 60%
of Monthly Salary.
So, I have "I2" Annual Salary / 12 * 0.6. But, then I need to have the
results that exceed $9,000/mth max. out at $9,000. and if they are < 9,000 I
need to have the actual results show.
I tried to incorporate an "IF" command but, it is not working.

ex. =(I2/12*0.6),IF(Annual Salary>180,000, 9,000, 0)

 

[mzehr]

Hi Katie,
Try:
If(I2/12*0.6>9000,9000,I2/12*0.6)