Calculator help please

[checkers]

Hi there, I'm trying to create a land transfer tax calculator. The formula is to be as follows

 

Up to and including $55,000.00 0.5%  plus

$55,000.01 to $400,000.00 1.0%  plus

Over $400,000.00 2.0%

 

FOR EXAMPLE: A home with a consideration value of $500,000.01

 

MLTT Rate Calculation

0 to $55,000.00 55,000.00 x 0.005 = $275.00

$55,000.01 to $400,000.00 $344,999.99 x 0.01= $3,450.00

$400,000.01 to $500,000.00 $99,999.99 x 0.02= $2,000.00

Total MLTT= $5,725.00

 

what I have so far is

<form method="GET" name="tax" action="http://www.abc.com/what-can-i-afford/">
<input type="hidden" name="comp_form" value="1">
<table cellpadding="2" cellspacing="0" border="0" width="100%" align="center">
    <tr valign="top" bgcolor="#eeeeee">
        <td align="right" width="150px">Home Cost</td>
        <td><input type="text" size="10" name="home_cost" value="<?php echo $home_cost; ?>"> (In Dollars)</td>
    </tr>
    <tr><td> </td></tr>
    <tr><td><input type="submit" value="Calculate"><br>
        <?php if ($comp_form) { print("<a href=\"" . $_SERVER['PHP_SELF'] . "\">Start Over</a><br>"); } ?><br></td>
    </tr>
</table>

<?php
/* -----------------------------------------------*/	
/*              Affordability Calc                */
/*            Set Form DEFAULT values             */

$home_cost       = 0;

/*          Set the USER INPUT values             */

if (isset($_REQUEST['comp_form'])) {
$home_cost = $_REQUEST['home_cost'];
if ($home_cost >= 55000) {
		$MLTT = 55000 * 0.005;

	if ( ($home_cost >= 55000.01) && ($home_cost <= 400000.01) ) {
			$MLTT = $MLTT + (($home_cost - 55000)*0.01);

			if ( ($home_cost >= 400000.01) && ($home_cost <= 500000) ) {
			$MLTT = $MLTT + (($home_cost - 400000.01)*0.02);
		}
	}
echo $MLTT;
}
?>
<h2>MLTT is:<?php $MLTT ?></h2>
<?php
}
?>

 

I'm only getting 275??? Please help as I'm unsure how to break up the home amount and perform each calculation

[checkers]

**BUMP**

[DavidAM]

[*]If the home cost less than 55,0000, you are not charging any tax (not related to the current complaint);

[*]If the home is over 400,000, you are not charging the middle tier;

[*]If the home is over 500,000, you are not charging the third tire;

 

It would work correctly, like this:

#	$home_cost = $_REQUEST['home_cost'];
$home_cost = 500000.01;

if ($home_cost > 0) {
	$MLTT = min($home_cost, 55000) * 0.005;

	if ($home_cost > 55000) {
		$MLTT += min(($home_cost - 55000), (400000 - 55000)) * 0.01;

		if ($home_cost > 400000) {
			$MLTT += ($home_cost - 400000) * 0.02;
		}
	}
} else {
	echo 'Are you sure you want the home if they have to PAY you to take it?!';
}

printf('My Calc #1: %.3f' . PHP_EOL,  $MLTT);

 

As an alternative, you can put the values in an array, and then not have to rewrite your code if the tiers change:

 

#	$home_cost = $_REQUEST['home_cost'];
$home_cost = 500000.01;

$breaks = array( 	array('min' => 0, 'max' => 55000, 'rate' => 0.005),
			array('min' => 55000, 'max' => 400000, 'rate' => 0.01),
			array('min' => 400000, 'max' => -1, 'rate' => 0.02));

$MLTT = 0;

foreach ($breaks as $vals) {
	if ($vals['max'] == -1) {
		/* edge case - the LAST entry should have -1 for the max */
		$MLTT += ($home_cost - $vals['min']) * $vals['rate'];
	} else {
		$MLTT += min(($home_cost - $vals['min']), ($vals['max'] - $vals['min'])) * $vals['rate'];
	}
}
printf('My Calc #2: %.3f' . PHP_EOL,  $MLTT);