non-unique value lookup

[ibi]

hello everyone, i am new to the site so i would like to first say hello to you all!

i am stuck on a formula that should be looking up a value within a specified range.

ex. i have an actual dollar amount that is reported and need to determine what the payout would be.

Target	Payout
1,662	$0.01
3,325	$0.02
4,987	$0.03
6,649	$0.04

for example based on above table, if the acutal dollar amount reported was 4500, payout would read $0.02. if actual was less than $1,662 then would return 0, and if payout was 7000, payout would remain $0.04

thank you,

[Bob Phillips]

Try this

=IFERROR(VLOOKUP(amount_to_check,A1:B5,2,TRUE),0)

[ibi]

thank you very much