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I am trying to use the IF formula in excel but am getting errors.

In Column E i have the business type which consists of New Business, Renewals, Upsells.

If the value is New Business or Upsell I need to have the value of 4500 entered, if it equals Renewal i need to have the value 300 entered

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=IF(OR(E2="New Business",E2="Upsell"),4500,IF(E2="Renewal",300,""))


=IF(OR(E2="New Business",E2="Upsell"),4500,300)
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=IF(E2="Renewal",300,4500) is slightly more compact. (Thank you for all your other contributions too!) – pnuts Mar 13 '13 at 8:41

This should work. Assuming your header information is in row 1 and data starts in row 2, if you place this formula in F2 (or whichever column you want your data to appear) and copy-down to the last row in your sheet, you should get the right answer for each value.

=if(or(E2="New Business", E2="Upsell"), 4500, 300)
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i'm a pedant meself. it was no trouble. re: OR, I lean the other way. It's more cumbersome, but future maintainers of the spreadsheet will have more idea of what's going on if everything's identified. Worse (perhaps), i also want to change the last ,"" to catch everything else and return "Invalid Type" – mcalex Mar 14 '13 at 11:57

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