I'm trying to use Excel to calculate fees, and the fees in question are as follows:

Monthly Gross Income, Fee

- $0-$99.9 = 15%
- $100-$199.9 = 14%
- $200-$299.9 = 13%
- etc...
- $1400-$1499.9 = 1%
- $1500 or above = 0%

I can't work out a mathematical formula for taking x (Monthly Gross Income) and outputting y (Fee). Do I need to rely on the IF function here in Excel, and if so, is there a more elegant way to do it than just stacking 15 IF functions inside each other?

Many thanks.