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Conditional IF Statement

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I have one table that has both insurance and investment products. The Product field splits these out. They share other common fields such as “Payment/Investment_Amount” and “Payment_Frequency”

Payment frequency holds single select options of weekly,biweekly, bimonthly, and monthly.

I am trying to create a statement specifically to calculate annual premium paid for insurance products. This is a conditional IF statement as the product has to equal insurance, then if it does, premium amount * frequency to equal annual payments.

Can someone assist? Much appreciated!

Thank you,

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