If Statement Help

[Stockwell43]

Hello,

My boss needs me to do an IF statment on a spreadsheet. Here is what I need:

In the Column "Interest Rate" the cells are percentages 0.00%, 5.50%, 2.25%
and so on. In the Loan Type Column are the loan types depending on the
Percentage Rate.

What I need is this:
If Interest rate is 0.00% then Loan Tpye is "Letter of Credit"

How do I get Excel to do this if the user enters 0.00% in the interest rate
column?

Thanks!!

 

[Bob Phillips]

Create a two column table elsewhere with the possible rates in one column,
loan types in the next, then use

=VLOOKUP(rate,lookup_table,2,False)


--
HTH

Bob

(there's no email, no snail mail, but somewhere should be gmail in my addy)

 

[Pete_UK]

Assume Interest rate is in cell I2, then use this formula in your Loan Type
column:

=IF(I2=0,"Letter of Credit","")

then copy down. I suspect you will need other text returned if the
percentage is different, so post back with further details.

Hope this helps.

Pete

 

[Stockwell43]

Hi Bob,

Couldn't I use an If statemnt in the cell and just drag it down? I am not
familiar with Excel enough to do it the way you are suggestion.

Thanks!!

 

[Pete_UK]

Bob's is the more flexible solution, but you could do it like this:

=IF(I2="","",IF(I2=0,"Letter of Credit",IF(I2<=2.25%,"LOW
Rate",IF(I2<=5.0%,"HIGH Rate","Poor Risk"))))

Hope this helps.

Pete

 

[Stockwell43]

Hi Pete,

Thank you for your reply. Yes, this is exactly what I needed and worked
great.

Actually, this was all she needed. There were over 6000 records and she just
wanted an easy way to do this rather than going through each one indiviually.

Yes, Bob's way look like it would be more flexible and if this was a project
that was going to entail using this spreadsheet often I would have liked to
try his way but in this case it was a one time thing to give to the Auditor
for informational purposes only.

I appreciate your quick response and thank you agin for your help!!!

Have a great weekend!!!!!

 

[Pete_UK]

You're welcome, and thanks for the feedback - glad it gave you what
you needed.

Pete

 

[Bob Phillips]

You could but it can only support eight types, and is more hassle to
maintain.

--
HTH

Bob

(there's no email, no snail mail, but somewhere should be gmail in my addy)

 

[Bob Phillips]

.... and is a lot less efficient

--
HTH

Bob

(there's no email, no snail mail, but somewhere should be gmail in my addy)