IF Function Help

Thread view:

Enable EMail Alerts

Start New Thread

Thread rating:

IHateComputers - 07 Mar 2008 02:34 GMT

I have a project that requires me to calculate bonuses for employees. I am
pretty sure that I need to use an IF function. Here is the question:

If the project fees do not exceed estimates the manager receives an 100
bonus. Algebraically, this is Bonus=(actual-projected)*bonus rate if
(actual-projected)>0, 100 otherwise. Create a formula that calculates the
project manager bonus.

This is a completely different language that I just can't seem to decipher.
If anyone can help, that would be great!

Reply to this Message

Barb Reinhardt - 07 Mar 2008 02:40 GMT

=if(actual - projected > 0, (actual - projected) * bonusRate, 100)

Signature

HTH,
Barb Reinhardt

> I have a project that requires me to calculate bonuses for employees. I am
> pretty sure that I need to use an IF function. Here is the question:
[quoted text clipped - 6 lines]
> This is a completely different language that I just can't seem to decipher.
> If anyone can help, that would be great!

Reply to this Message

Rick Rothstein (MVP - VB) - 07 Mar 2008 03:12 GMT

Or even...

=MAX(100,(Actual - Projected) * BonusRate)

which is a more fair formula (for the manager) than the one you posted (if
the difference times the bonus rate is less than 100, your formula gives the
manager the smaller amount).

Rick

> =if(actual - projected > 0, (actual - projected) * bonusRate, 100)
>
[quoted text clipped - 10 lines]
>> decipher.
>> If anyone can help, that would be great!

Reply to this Message

Rate this thread: