Custom formula "if" statement

Custom formula "if" statement

I need to create a custom formula column that will reference 2 other columns and based on the contents of those, display the output designated.

Example:
I have the columns "Inquiry Funnel Formula" and "Market." (The "Inquiry Funnel Formula" is a custom formula column). I would like my new custom formula column to do the following:

If(instr("Inquiry Funnel Formula", 'Application')>0  AND ("Market",'Albuquerque')>0,'5'

Basically I want my column to look at the variable in my Inquiry funnel column, then at the variable in my Market column and produce an assigned number to each. How do I write the formula to do this?

Thanks for your help