Need help creating formula for given data

[Need Assistance! Please Help!]

I have develped a spreadsheet to assist me in my stock trading. I have one
column that I need to set up to calculate the commission rate. It took me a
couple of years to get the basic calculations information figured out back in
1998 and it has helped me a great deal when used on all my accounts. But, I
still lack the expertise in some calculation functions. I would greatly
appreciate anyones assistance. Given information follows:

Commision rate is equal to $7.00. If though by multiplying 5% of the total
price, that figure exceeds the $7.00 standard rate, then additional
commission is $0.005 per share that exceeds 1000 shares.

 

[daddylonglegs]

With total price in A2 and number of shares in B2

=IF(A2="","",7+(A2*5%>7)*MAX(0,B2-1000)*0.005)

 

[Don Guillett]

One way
=MAX(7,7+IF(G3>1000,(G3-1000)*0.005))

--
Don Guillett
Microsoft MVP Excel
SalesAid Software
(e-mail address removed)
"Need Assistance! Please Help!"

 

[Need Assistance! Please Help!]

Unfortunately your formula did not work.

I'll should have been more specific. First, I am using MS Exel 2007. The
formula I need:

I have total shares listed in cell G2. The total cost of the purchase is in
cell V2. Now, the commission is standard at $7.00, but if I multiply total
cost by 5% and it exceeds $7.00, then commission is $7.00 plus $0.005 for
every share over the initial 1000 shares.

 

[Need Assistance! Please Help!]

Unfortunately your formula did not work. I should have been more specific.
First, I am using MS Excel 2007. The Information follows:

I have total shares in cell G2. I have total cost of purchase in cell V2.
The standard commission is $7.00, but if I multiply the total cost of
purchase by 5% and it exceeds the $7.00, then the commission is $7.00 plus
$0.005 per share after the intial 1000 shares.

 

[Don Guillett]

Try it this way where g2 is the purchase price and g3 is the number of shs.

=MAX(7,7+IF(AND(G2>140,G3>1000),(G3-1000)*0.005))

--
Don Guillett
Microsoft MVP Excel
SalesAid Software
(e-mail address removed)
"Need Assistance! Please Help!"

 

[Need Assistance! Please Help!]

Formula somewhat worked. Where did you come up with the 140 in the string?

 

[Austin]

How or where did you come up with the number 140 in this formula string? Just
curious for future reference.

 

[Lars-Åke Aspelin]

"if I multiply the total cost of purchase by 5% and it exceeds the
$7.00"

is equivalent to

"if the total cost of purchase exceeds $140"

There you have the mysterious 140.

Lars-Åke

 

[Don Guillett]

somewhat???
140 already explained

--
Don Guillett
Microsoft MVP Excel
SalesAid Software
(e-mail address removed)
"Need Assistance! Please Help!"