Excel - Using IF with multiple conditions

I mentioned Visicalc in my last post.

The Visicalc manual from 1981 has the following to say about the @IF function:

@IF takes three arguments . The first must be a logical value ; the second and third can be any value . The function evaluates to the value of the second or third argument, depending on the value of the first.

So fast forward to Microsoft Excel in 2015.

I tried to enter an IF function with multiple conditions into Excel today. Here is something similar to what I entered:

=if(a1="y","day",a2="y","week",a3="y","month,"year")

You get the idea:

IF cond1 THEN res1 ELSEIF cond2 THEN res2 ELSEIF cond3 THEN res3 ELSE res4

What could be simpler?

Guess what: after all of these years, the Excel IF function still only takes 3 arguments!!

So people have to resort to "nested ifs":

=if(a1="y","day",if(a2="y","week",if(a3="y","month,"year"))) 

Unbelievable! Talk about a lack of innovation!!