Need cell to show the largest value

  • Thread starter Thread starter glenrayel
  • Start date Start date
G

glenrayel

I am new to excel, working on my first spread sheet has been somewha
enjoyable. I have run into one problem that I can't seem to work out.
I have a formula or function, not sure what it is called, that makes
calculation based on the dollar amount in another cell. It makes th
caculation fine and shows the correct result, an example of this is:

a1 = $2000

the formula or function I placed into b1 is:
=((A1/100)*0.08)*30

this gives me a value of $48, so it is working properly

Note: Our interest is figured at 8 cents a day per $100 and I a
trying to show what that accumulation is after a 30 day period.



The problem is that we have a minimum fee of $75 and most of the time
the number that is generated by the formula is higher then the minimum
I need the formula to realize when the value is less than $75 and pos
a $75 minimum instead of the lesser value the formula generated. I
the value is $75 or greater then I want it to post the actua
calculated number. So in short, anytime the value is less than $75,
would like it to show a $75 figure and not the lower value. Likewise
if the value is $75 or higher then I want it to post the higher value.
I have racked my brain trying to understand how to do this and woul
certainly be very appreciative to anyone that could help me out.

It would be much more helpful to me if you could show the formula o
function in print since I am not real familiar with the terminolgy o
Excel. I would hate for someone to take the time to describe how t
resolve the issue and not be able to use that information because
can't understand the terms.

Thank you in advance,
glenraye
 
I am new to excel, working on my first spread sheet has been somewhat
enjoyable.
Click to expand...

Yeah, that'll change.

Use something like this in B1 -

=MAX(75,((A1/100)*0.08)*30)

It may be worth defining a named range for interest, so that if the rate
changes you just have to change the name definition rather than all the
formulas. To do this, hit CTRL+F3, type eg: "Rate" (without the quotes) in
the Names in Workbook box, type "=0.08" in the Refers To box, click OK. Then
you can use the name in the formula rather than the amount, eg:

=MAX(75,((A1/100)*Rate)*30)

HTH,
Andy
 
You old cynic!

I resemble that remark. I just finished Excel "Expert", cut me some slack
..Anything good on the radio today Bob?

Rgds,
Andy
 
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