Can't get conditional syntax correct

Question

Have [Tier] column with choice values of 0,1,2,3.

If [Tier] = 0 calculated column should = 0
If [Tier] = 1 calculated column should = 4
If [Tier] = 2 calculated column should = 24
If [Tier] = 3 calculated column should = 48

Can get to work for 2 values using the following syntax but not for 4 values:

=IF(OR([Tier]="1",[Tier]="2"),"4","24") 

Answer 1

Option 1:

=CHOOSE([Tier]+1,0,4,24,48)

Option 2:

=IF(Tier=0,0,
     IF(Tier=1,4,
        IF(Tier=2,24,
             IF(Tier=3,48)
        )
      )
   )

Answer 2

Option 1 given in @Mike Smith's answer will work fine.

But there is small problem with his Option 2. You will need to modify the formula in option 2 like below:

=IF([Tier]="0",0,
        IF([Tier]="1",4,
            IF([Tier]="2",24,
                IF([Tier]="3",48)
            )
        )
    )

Note the quotes(") used in formula for comparison.

References:

1. CHOOSE function.
2. IF function.

Calculated Column settings you want to use: