I have to perform a tiered fee calculation as follows:

$0 - $1,000,000,000 = 0.535% (Cell K1)
$1,000,000,001 - $2,000,000,000 = 0.485% (Cell K2)
$2,000,000,001 - $3,000,000,000 = 0.435% (Cell K3)
Over 3,000,000,001 = 0.385% (Cell K4)

Net Assets = 2,000,452,222 (Cell C1)

The fee will be charged in each designation. How can I write in a single cell how to calculate the fee based on the table above? Is it an IF statement nested?