Please help with formula

[Kentucky Insurance]

I want to be able to calculate different percentages of a number.
Example:
The premium is $50,000
You get 7% commission of the first $20,000 of premium.
You then get 5% of the next $10,000 of premium.
Then you get 4% of the remaining amount.
We want to set the formula so we can put in any premium or percentages to
automatically calculate.
Thanks,
DeNise

 

[Elkar]

Let's assume your premium is stored in cell A1, then this formula should
calculate your commission based on the criteria you provided.

=MIN(A1,20000)*0.07+MIN(MAX(A1-20000,0),10000)*0.05+MAX(A1-30000,0)*0.04

HTH,
Elkar

 

[Gary''s Student]

Put your premium in A1, then:

=0.07*MIN(A1,20000)+(A1>20000)*0.05*MIN(A1-20000,10000)+(A1>30000)*0.04*(A1-30000)

 

[Kentucky Insurance]

Thanks alot.

Let's assume your premium is stored in cell A1, then this formula should
calculate your commission based on the criteria you provided.

=MIN(A1,20000)*0.07+MIN(MAX(A1-20000,0),10000)*0.05+MAX(A1-30000,0)*0.04

HTH,
Elkar