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Solve : Excel IF fnction?

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We are TRYING to generate an extended IF function in EXCEL and need to KNOW how many iterations can be put together - it appears to be 8 but does anyone know if this is the limit?From Excel HELP......
"Nesting level limits A formula can contain up to seven levels of nested functions. When Function B is used as an ARGUMENT in Function A, Function B is a second-level function. For instance, the AVERAGE function and the SUM function are both second-level functions because they are arguments of the IF function. A function nested within the AVERAGE function would be a third-level function, and so on."



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