IF Formula with money calculation


I am working on a formula that I can’t quite figure out in Monday.com. I’m trying to combine an IF formula with a multiplication.

So for example, IF x column = y, multiply it by 0.72. If it x column = z, multiply it by 0.50.

Is this possible in Monday.com?

I am very familiar with excel formulas but I’m not quite sure if this is following the same flow.



IF({x}=1, {x}*0.72, IF({x}=2, {x}*0.50, "No Match"))