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Using SUMPRODUCT to calculate progressive charges/taxes/etc.
Hi all, I'm looking to create a tiered fee system within my financial planning practice and I'm struggling to get it to work. I know SUMPRODUCT should do it, but I can't figure out how to do it properly. I am not a power user by any stretch, and I'm struggling to get this to work. What I'm trying to do is set up my charges as follows:
$0-400k - 1%
$400k-1.5m - 0.75%
$1.5m-2.5m - .6%
$2.5m-5m - .5%
$5m-7.5m-.35%
$7.5m+ - .2%
Can anyone give me some guidance on this?
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