How to calculate conditional discount

this question in excel,

The discount is to be computed as follows: (1) No discount for the first $100. (2) For subtotals above $100, five percent of the amount that the subtotal exceeds $100. (3) For subtotals above $500, the afore-mentioned discount plus an additional five percent of the amount that the subtotal exceeds $500. The discount should be applied to the subtotal of all products (not the per-product total price).

The discount must be computed using a single formula that will work correctly regardless of how big the subtotal is. All decision-making about the discount, based on the size of the subtotal, must be done automatically by the formula (using the IF function).
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