Calculations Using the =IF formula

[Guest]

For the life of me I cannot figure out how to work this problem from a
textbook.
Here it is
If hours<=40, then gross pay=rate*hours, otherwise gross
pay=rate*hours+.05*rate*(Hours-4)
b4=rate c4=hours e4=ytd social security
f4=gross pay g4=soc sec. a5=max soc sec.

I am at my wits end.

Thanks

 

[Guest]

Hi
Is this what you are after ??
In F4

=IF(C4<=40,B4*C4,B4*C4+(B4*0.05*(C4-4)))

HTH
Michael

 

[Fred Smith]

Michael's formula will do what ChesireCat asked for, but I'll bet 0.05
should be 0.5 (ie, time-and-a-half, not time plus 5%).

 

[Guest]

Hi Fred
Yeah, I reckon your right, and the end of the formula should be C4-40 not
C4-4.
But we give 'em what they ask for !!


Michael