Formulas - Ugh!

[Guest]

Hi there, First time poster - please bear with me...

Here is what i am trying to do:

Market rent = 1200.00 Current rent = 1170.00.

I want to have a formula that takes the current rent, adds 3% if below
market rent without going over market rent. If the sum of current rent+3% is
over market rent then it calculates at 2.5% or brings the current rent to
market rent unless it is equal to more than 3%.

Here is the formula I'm using

=IF(G50<F50,ROUNDUP(G50*0.03,2)+G50) ?????(G50>F50,ROUNDUP(G50*0.025,2)+G50)

Not sure how to do this (??? unknown transition)

Thanks in advance for any help you can give!

Bryan

 

[Roger Govier]

Hi Bryan

With Market Rent in A1, Current Rent in B1
=MIN(A1,B1*1.03)

 

[Guest]

Try something like this:

With these values in cells A1:C2
Market Current PctIncr
1200 1170 3%

D1: NewRent
D2: =MIN(B2*(1+C2),A2)

That formula returns the lesser of
CurrentRent+3% or Market Rent

Is that something you can work with?
***********
Regards,
Ron

XL2002, WinXP

 

[Don Guillett]

I'm also a bit confused about what you are trying to do but see if this
helps.
=MIN(G9*1.03,G9*1.025)

 

[Guest]

Awesome! Thank you so much.l That was much easier than what i had for a
formula!

 

[Guest]

Thanks for the feedback, Bryan.....I'm glad I could help.


***********
Regards,
Ron

XL2002, WinXP