How can I use excel to calculate percentage rent?

Example - I am the owner of a retail building and I lease to a deli. I have
a lease that states I receive 7% of gross annual sales up to $500,000 and 3%
of gross annual sales over $500,000.

If I have the total gross annual sales in one column, is there an equation
that I can use that will take the 7% of $500,000 and 3% of anything above
$500,000?

thank you

Assume the gross is in cell A1. Use this:

=.07*min(500000,A1)+.03*max(0,A1-500000)


"Paul S" wrote:

> How can I use excel to calculate percentage rent?
>
> Example - I am the owner of a retail building and I lease to a deli. I have
> a lease that states I receive 7% of gross annual sales up to $500,000 and 3%
> of gross annual sales over $500,000.
>
> If I have the total gross annual sales in one column, is there an equation
> that I can use that will take the 7% of $500,000 and 3% of anything above
> $500,000?
>
> thank you

And, for a more generic solution, look here:

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

--
Kind regards,

Niek Otten

"Duke Carey" <(E-Mail Removed)> wrote in message
news:C9F49586-4672-431C-AE69-(E-Mail Removed)...
> Assume the gross is in cell A1. Use this:
>
> =.07*min(500000,A1)+.03*max(0,A1-500000)
>
>
> "Paul S" wrote:
>
>> How can I use excel to calculate percentage rent?
>>
>> Example - I am the owner of a retail building and I lease to a deli. I
>> have
>> a lease that states I receive 7% of gross annual sales up to $500,000 and
>> 3%
>> of gross annual sales over $500,000.
>>
>> If I have the total gross annual sales in one column, is there an
>> equation
>> that I can use that will take the 7% of $500,000 and 3% of anything above
>> $500,000?
>>
>> thank you

perfect. thanks for the help!

"Duke Carey" wrote:

> Assume the gross is in cell A1. Use this:
>
> =.07*min(500000,A1)+.03*max(0,A1-500000)
>
>
> "Paul S" wrote:
>
> > How can I use excel to calculate percentage rent?
> >
> > Example - I am the owner of a retail building and I lease to a deli. I have
> > a lease that states I receive 7% of gross annual sales up to $500,000 and 3%
> > of gross annual sales over $500,000.
> >
> > If I have the total gross annual sales in one column, is there an equation
> > that I can use that will take the 7% of $500,000 and 3% of anything above
> > $500,000?
> >
> > thank you

excellent source for info. thanks for the help.

"Niek Otten" wrote:

> And, for a more generic solution, look here:
>
> http://www.mcgimpsey.com/excel/variablerate.html
>
> --
> Kind regards,
>
> Niek Otten
>
> "Duke Carey" <(E-Mail Removed)> wrote in message
> news:C9F49586-4672-431C-AE69-(E-Mail Removed)...
> > Assume the gross is in cell A1. Use this:
> >
> > =.07*min(500000,A1)+.03*max(0,A1-500000)
> >
> >
> > "Paul S" wrote:
> >
> >> How can I use excel to calculate percentage rent?
> >>
> >> Example - I am the owner of a retail building and I lease to a deli. I
> >> have
> >> a lease that states I receive 7% of gross annual sales up to $500,000 and
> >> 3%
> >> of gross annual sales over $500,000.
> >>
> >> If I have the total gross annual sales in one column, is there an
> >> equation
> >> that I can use that will take the 7% of $500,000 and 3% of anything above
> >> $500,000?
> >>
> >> thank you
>
>
>