FinanceTier 815 minintermediate

Tiered Interest Rate Lookup

Assign the correct interest rate band to an account balance using a nested condition.

What you will learn

• Write nested IFS conditions checked in the correct order
• Explain why checking bands from smallest to largest without a strict boundary misassigns large balances
• Use IFS as a clearer alternative to deeply nested IF statements

Excel skills

IFS · Banding

The task

Interest rates are tiered by balance: under 10,000 earns 2%, under 50,000 earns 4%, under 150,000 earns 6%, and 150,000 or more earns 8%. In B2, write one formula that assigns the correct rate to the balance in A2.

You work in a real spreadsheet in your browser, and your answer is checked against hidden traps the moment you submit.

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