# Excel formula help

I need to calculate a number in a cell based on IF formula. If salary is \$20,000,000 over allowed baseline then penalty is \$4.75. At each additional \$5,000,000 penalty increases by factor of \$.50. So in perfect world a formula to calculate these incremental values.

\$20,000,000 over allowed baseline salary times \$4.75 penalty

\$25,000,000 times \$5.25 penalty

\$30,000,000 times \$5.75 penalty

\$35,000,000 times \$6.25 penalty

Include every \$5,000,000 increment to \$60,000,000

Lastly, if salary is \$21,000,000 for example that penalty should be approx. \$4.85? This indicates 20% of .50 as an increment. \$22,000,000 would be 40% of .50 or approx. \$4.95 x \$22,000,000. And so on and on. Is this correct? How may I write this formula that will calculate number based on figure in another cell? I will have one cell for total salary, another cell for final penalty given rate above. Thanks!

Not nimble enough with Excel

A cell that automatically calculates value based on number in another cell.

( 0 reviews ) Burlingame, United States

Project ID: #19787264

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MimiFL

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\$30 USD in 0 days
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6.9

## 33 freelancers are bidding on average \$63 for this job

prameswara

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\$30 USD in 1 day
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7.1
P0L

Hello, I’m an Excel expert and I would like to help you with your formula. Please check my profile and contact me to discuss further details. Regards.

\$50 USD in 1 day
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7.2
hdlan

Hello, I can help to write an Excel formula to calculate incremental values. Let’s discuss if you’re interested. Best regards, Duong

\$30 USD in 0 days
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6.3
mtdevil369

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aubrey03

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lightingdavid

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daniyal3214

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Anjulagrawal26

Hello, I can provide you a, simple excel formulae for this which can take care of this calculation. Shall be happy to assist. Kind regards, Anjul

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3.2
maliamaza

Hello, I read your desription and you can make formula in Excel if fixed first value 4.75. Send me a message and we can discuss more

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2.8
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emilianoreyes70

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TheAnsari97

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frlncrsZviDAyqG

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1.1
alexsun1222

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Arbabsaqib

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yunqiz

Hi, I know how to do this. I am a professional data analyst and graduated with master degree in Mathematics and Statistics from top US universities.

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