I am trying to write a formula that will calculate a price based upon a tiered pricing system. The tiering id this:
Fee is 1.00% of amount up to 1,000,000. The next 4,000,000 (ie 1,000,001 million thru 5 million) is charged at 0.70%, and
the amounts over 5 million are charged at 0.60%.
So, for example if the figure is 8,000,000 then the fee would
1,000,000 at 1.00% = 10,000
4,000,000 at 0.70% = 28,000
3,000,000 at 0.60% = 18,000
I want to write a formula that will reference an input cell such that if I
input 8,000,000, the formula will calculate $56,000.
I have tried to do it with an IF formula and just can't make