Excel - IF Function Problem - Expert Solution

Question description:
This user has given permission to use the problem statement for this blog.

Trying to write a formula for the value in a cell would = $25,000 if the value in cell E4 was less than 1,000,000. If E4 is> 8,000,000 then = $200,000. If E4 is between 1,000,000 and 8,000,000 the cell is calculated as E4*0.025
Solved by K. F. in 40 mins
This is the chat thread from the real Excelchat help session. It contains no private user information.
Excelchat Expert 18/09/2018 - 08:25
Welcome, Thanks for choosing Got It Pro-Excel. I can help you with that problem.
Excelchat Expert 18/09/2018 - 08:25
Before we get started, this is a reminder that our policy is 1 problem per session with additional Q&A on that problem as time allows.
User 18/09/2018 - 08:25
ok thank you
Excelchat Expert 18/09/2018 - 08:25
Do you have sample data which we can use to illustrate how to solve this problem?
User 18/09/2018 - 08:26
no I don
Excelchat Expert 18/09/2018 - 08:26
Okay.
User 18/09/2018 - 08:26
I just need to understandhow to write that in a if then statement
Excelchat Expert 18/09/2018 - 08:26
Okay.
Excelchat Expert 18/09/2018 - 08:26
Based on what you’ve shared, you need an IF function to solve the problem.
User 18/09/2018 - 08:26
basically I gave you a sample of what I want to say
Excelchat Expert 18/09/2018 - 08:26
Do you believe that will address your problem?
User 18/09/2018 - 08:26
correct
User 18/09/2018 - 08:27
I just can't seem to figure out how
User 18/09/2018 - 08:27
yes I do
Excelchat Expert 18/09/2018 - 08:27
Okay. Let me formulate it, will get back to you shortly.
Excelchat Expert 18/09/2018 - 08:33
Thank you for your patience.
Excelchat Expert 18/09/2018 - 08:33
The function is:
Excelchat Expert 18/09/2018 - 08:33
=IF(E4<1000000,25000,IF(E4<8000000,E4*0.025,200000))
Excelchat Expert 18/09/2018 - 08:34
Kindly confirm that it works fine.
Excelchat Expert 18/09/2018 - 08:34
Does this solution solve your problem?
Excelchat Expert 18/09/2018 - 08:35
Are you there?
Excelchat Expert 18/09/2018 - 08:41
I did not receive responses from your end. You can always chat with us as we provide steps to solving your problem.
User 18/09/2018 - 08:41
yes thank you!
Excelchat Expert 18/09/2018 - 08:42
Has it worked fine?
Excelchat Expert 18/09/2018 - 08:43
Is there any questions or clarifications you may need in regards to this?
Excelchat Expert 18/09/2018 - 09:03
It was my pleasure helping you solve this problem. Any time you have a problem with Excel do not hesitate to come back for help.
Excelchat Expert 18/09/2018 - 09:03
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