Bonus calculation with a cap on the return for the quarter

[cmartin311]

I have the following formula - =(January!E3+February!E3+March!E3)/3. How woud I add a cap of 15%

 

[mrshl9898]

Not 100% what you mean, maybe =MAX(0.15,(January!E3+February!E3+March!E3)/3)

 

[cmartin311]

Perfect that works, Thank you very much!

 

[jtakw]

Hi,

When you say:

How woud I add a cap of 15%

That means (to me anyways) that you want the result to be No More than 15% (capped at 15%).

So we should use MIN rather than MAX:

=MIN(0.15,(January!E3+February!E3+March!E3)/3)

which would return 15% if January!E3+February!E3+March!E3)/3 is Over 15% (result is the Lesser of the two)

 

[mrshl9898]

hah, whoops!! good catch.