Cleanest way to do multiple if ands?

[joshnathan]

Hi all,
I was wondering what the cleanest way to do multiple if and statements is for example

I want to do the following
IF E4 >= 4 and <5 then -.5
IF E4 >= 5 and < 6 then -..75
IF E4 >= 6 and <7 then -.9

I've been thinking about how to put this into a single formula and it seems very long winded to do 3 if and statements.
Is there a faster way around this?

=IF(AND(E4>=4,E4<5),E4-0.5,IF(AND(E4>=5,E4<6),E4-0.75,IF(AND(E4>=6,E4<7),E4-0.9,E4)))