How do I create a formula in Microsoft Excel 2010 that will take a monetary amount like a price from a cel, calculate the first $50 dollars at 11% and then take the remaining amount between $50.01 to $1,000.00 and calculate that at the rate of 6% and then take both answers, add them together and return them to a cell.



I have been trying to figure out how to get Excel to do this, but so far have had no luck at all. If anyone can tell me how to create a formula that will do this and can even given me some examples I'd appreciate it.