Getting started question on formula fields

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I'm a beginner. I want to create a formula field that will take the selected text from a multiple choice field and convert it into $. This is for a student enrollment app where parents can select 5 full day, 3 full day, etc. enrollment options. Each option has its own fee.  I have created a formula field: If([Enrollment Type]="5 Full Day",360). Clearly it doesn't work. I want the result to be $360 if 5 Full Day is the enrollment type (that's the field name) selected.
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fiona carr

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Posted 1 month ago

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QuickBasePros_IDS, Champion

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When building an IF statement you also need an "else" condition.

If([Enrollment Type]="5 Full Day",360,null)

if "enrollment type" is equal to "5 Full Day", then 360, otherwise zero