IfElse returning null value

Question

I am trying to create a calculated field in the Product Catalog. I have a custom drop down field named pricing_factor_options_c. I want another custom currency field name pricing_factor_1_amt_c to be populated with a certain amount depending on the selection from pricing_factor_options_c. Here is my calculations. This calculation does not return any errors. However, when I make any selection in the pricing_factor_options_c field on the Product Catalog the pricing_factor_1_amt_c field returns a "false" value in red with an error message "Please complete all required fields before saving". This field is not a required field, by the way. However, when the record is attempted to be save this is the error message received. 
 Here is the calculation I have in the pricing_factor_1_amt_c field. What have I done wrong? 
 or( ifElse(equal($pricing_factor_options_c,"Fixed Rate"),1.00,""), ifElse(equal($pricing_factor_options_c,"Pricing Factor 1"),2950.00,""), ifElse(equal($pricing_factor_options_c,"Pricing Factor 2"),200.00,""), ifElse(equal($pricing_factor_options_c,"Pricing Factor 3"),25.00,""), ifElse(equal($pricing_factor_options_c,"Pricing Factor 4"),495.00,""), )

Paula McGuire · Answer

You should implement a nested ifElse instead, just like below: 
 
 ifElse( equal($pricing_factor_options_c,"Fixed Rate"), 1.00, ifElse( equal($pricing_factor_options_c,"Pricing Factor 1"), 2950.00, ifElse( equal($pricing_factor_options_c,"Pricing Factor 2"), 200.00, ifElse( equal($pricing_factor_options_c,"Pricing Factor 3"), 25.00, ifElse( equal($pricing_factor_options_c,"Pricing Factor 4"), 495.00, 0 ) ) ) ) )