Is there such a formula? ... Yes/No?

[jayseeca]

The best way to explain my question is by an example:
Lets say I have a bunch of numbers, one of them being 100,000.
Is it possible to create a formula in an Excel cell, which will tell me a
value when I want to sum -
the first 5,000 of the 100,000 multiplied by 14%, then add the NEXT 5,000 *
10%, added with the NEXT 10,000 * 8%, and more than 20,000 of the 100,000
multiplied by 5%.
Then carry on this formula to other values, such as 150,000; 254,948... etc

Does anyone understand what I'm asking?

 

[Peo Sjoblom]

Yes

http://www.mcgimpsey.com/excel/variablerate.html

Regards,

Peo Sjoblom

 

[jayseeca]

Wow, thanks very much! I thought I had hours of tedious calculation ahead of
me.
Thanks again.

 

[jayseeca]

for the first example on the site you directed me to.... would the formula
change of the first tax rate was not 0%?

 

[Elkar]

Here's another way to do it:

=MAX(MIN(A1,5000),0)*0.14+MAX(MIN(A1-5000,5000),0)*0.1+MAX(MIN(A1-10000,10000),0)*0.08+MAX(A1-20000,0)*0.05

HTH,
Elkar

 

[daddylonglegs]

for the first example on the site you directed me to.... would the
formula
change of the first tax rate was not 0%?

Because, in your example, the tax starts at 0 you need the first array
(containing the bands) to start at 0, i.e. for the example you give

=SUMPRODUCT(--(A1>{0,5000,10000,20000}),A1-{0,5000,10000,20000},{0.14,-0.04,-0.02,-0.03})

..or a modified version of Elkar's suggestion....

=MEDIAN(A1,5000,0)*0.14+MEDIAN(A1-5000,5000,0)*0.1+MEDIAN(A1-10000,10000,0)*0.08+MAX(A1-20000,0)*0.05