Help explaining a formula

[RossB1010]

Hi I have a formula that i'm struggling to figure out, wonder if anyone could help me explain it?

The fprmula is;

=IF(N20<5,$J$20*L20,J20*L20)

N20 refers to the count of claims paid

J20 refers to the Average claim amount

L20 refers to the number of claims pending

Hope this enough info to explain things!

Cheers

 

[JazzSP8]

IF(N20<5,$J$20*L20

If Count of Claims is less than 5 then Average Claim Amount (locked into J20) * Number of Claims.

,J20*L20)

If it isn't less than 5, Average Claim Amount (from the same row) * Number of Claims.

Hope that helps

 

[RossB1010]

Thanks very much!