Several IF's - THEN an AND ?

[want2b]

Sorry, I haven't been on here much since I retired several years ago. I want to add a condition to an =IF statement. Dang I don't even remember how to ask a question.
I'll try an example.

O5 = Balance Forward
S5 = Received on Account
T5 = Date Payment Received
$T$1 = Due Date

=IF(O5<=0,"",IF(S5="",10,IF(S5<O5,10,IF(T5>$T$1,10,""))))

the results are either "" (null) or 10
This works fine - it adds 10 when the entire amount is not paid by the due date.

What I would like to add is a 5 day grace period signified by "WAVED".

Thought this would be simple by inserting IF(T5>$T$1#AND#T5<=$T$1+5,"WAVED",

Couldn't find #AND# (may be and old memory from 123) also couldn't figure how to use the =AND function within an IF.

I'm using Excel 2003 Thank you for any help.

 

[VoG]

The syntax is

IF(AND(T5>$T$1,T5<=$T$1+5)

 

[want2b]

The formula did not print out as I entered it?

=IF(O5<=0,"",

IF(S5="",10,

IF(S5<O5,10,

IF(T5>$T$1,10,""))))

For what ever reason in the third line after IF(S5
should be (less than sign O5,10,) don't know why it doesn't show up???

 

[Special-K99]

On this board you must place spaces before and after carats < and >
Use Vogs formula and report on if it worked (which I'm sure it will!)

 

[want2b]

That worked like a champ
Thank you very much