7. In column K, create a nested IF function to determine the shipping cost for e

Question

7. In column K, create a nested IF function to determine the shipping cost for each instrument. Use the shipping code (column F) and the shipping charge options Pickup (0), Ground ($25), and Rush ($50) to assign shipping costs to each rental instrument.

Rental Rental PeriodIns Cov Code Shipping Group Return Insurance Shipping Total Renter Instrument Date Mogan Flute Novarre Clarinet CodeDate Rental $ Cost 8/15/2016 8/28/2016 ChicoFrench Horn 7/13/2016 7/17/2016 7/2/2016 Saxophone 8/31/2016 ZischkeTrombone 8/30/2016 8/22/2016 7/15/2016 Swartz Trombone 7/3/2016 Bassoon 7/17/2016 9/11/2016 Aserty Trombone 7/30/2016 McGraw Accordian 9/30/2016 Mclver Trombone 8/24/2016 9/5/2016 9/8/2016 8/2/2016 8/9/2016 8/12/2016 7/24/2016 Shenal Saxophone 8/1/2016 Pickup A 47 #VALUE! 650 #VALUE! 90 #VALUE! 47 #VALUE! 100 #VALUE! 57 #VALUE! 47 #VALUE! 47 #VALUE! 57 #VALUE! 400 #VALUE! 47 #VALUE! 57 #VALUE! 100 #VALUE! 57 #VALUE! 47 #VALUE! 47 #VALUE! 47 #VALUE! 47 #VALUE! 47 #VALUE! 47 #VALUE! 286 #VALUE! 9 Yes Roman Piccolo DiGrigoro Flute lbe Ground Ground C Pickup A Ground D Gilhooly Flute Flute Ground A Ground ICKu Pickup E Udinotti Clarinet Pickup D Schenck Flute BindnerFlute Blum ICKu Pickup A Clarinet Flute ICKu Ground A Pickup A Turrell Clarinet Aserty Clarinet 9 Yes

Explanation / Answer

6. The formula to calculate insurance cost is:

P = [(C+F)1.1R] / [1-1.1R]

Where,

P = Insurance Premium

F = Freight

C = Cost

R = Insurance Rate

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