Much Appreciated: May I ask one more time?

  • Thread starter Thread starter Guest
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Guest

Thank you all so much for answering my question> I have been struggling with this last assignment in online course.My final calculation also involves a payroll function. Once again Gross Pay Column is E2, Employment Insurance Column is G2. The scenario is"EI is 5 percent of gross pay, to a maximum of $28.00, but is only paid if gross pay is greater than $400. The formula I tried is =MIN(28,0.05*E2) however this formula does not take into account the gross pay greater than $400 part. I've tried incorporating in different ways but keep getting error message. I'm anxious to learn more about formulas and functions. Will take a more intermediate course. Thanks so much.
 
Bonnie

=IF(E2<=400,"No EI Payment",IF(E2>400,(MIN(E2,28,E2*0.05))))

Gord Dibben Excel MVP
 
Hi Bonnie
I believe the first E2 in Gord's MIN function isn't necesary. The formula could be changed to

=IF(E2<=400,"No EI Payment",IF(E2>400,(MIN(28,E2*0.05)))

Is there something I'm missing Gord, or is that E2 just an extra reference? Since E2 will always be over 400 for this MIN function to be used it will never be the min

Regards
Mark Graesse
(e-mail address removed)
Boston M

----- Gord Dibben wrote: ----

Bonni

=IF(E2<=400,"No EI Payment",IF(E2>400,(MIN(E2,28,E2*0.05)))

Gord Dibben Excel MV


On Wed, 10 Mar 2004 19:41:06 -0800, "BonnieVD
 
Mark

The extra E2 was a leftover after modifying the original formula from the
earlier "CPP" question.

No need for it to be there as you point out.

Thanks, Gord
 
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