IF formula for math equation?

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Hello it's me again with another question...

I want to create a simple formula where VALUE cell * % Complete but only when status is "in progress"

So in my example, "value of % complete" colum, line 1 would say $500, and line 2 would be blank.

I know there must be a way, but I can't figure it out. Blame this one on being Friday afternoon.

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