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Software ==>	Excel (113 exercises)
Topic ==>	Advanced IFs (5 exercises)
Level ==>	Average difficulty
Subject ==>	Excel training

Using the IF function to calculate different interest rates and messages

This exercise is provided to allow potential course delegates to choose the correct Wise Owl Microsoft training course, and may not be reproduced in whole or in part in any format without the prior written consent of Wise Owl.

Before you can do this exercise, you'll need to download and unzip this file .

Open the file contained within the folder name shown above.

List of account balances

We want to use an IF function to calculate the interest earned.

In cell B2, create an IF Function to calculate the interest earned. Use this to help you:

If the balance >= 85000 then the interest rate is 7.5%
If the balance is lower, the interest rate is 5%

Remember the structure of the IF function is:

=IF ( CONDITION, ACTION IF TRUE, ACTION IF FALSE )

Copy your IF function down the rest of the column to calculate the other interest figures.

In cell C2, create an IF function to display a message to say which interest rate has been applied. Use this to help you:

If the balance >= 85000, the message is High Rate
If the balance is lower, the message is Low Rate

Copy your IF function down the rest of the column to calculate the other messages:

Final formulae

This time your IF function displays text messages.

Change the amounts for the threshold and high and low interest rates to check that your formulae are working correctly.

Use Save As... to save your file in your own new Excel work folder.

You can unzip this file to see the answers to this exercise, although please remember this is for your personal use only.

You can find other training resources for the subject of this exercise here:

Training courses in Excel

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