Excel 2013 formula to calculate salary increase based on service years and percentage

Hi,
I have a spreadsheet that has all employees with their Service Date (column AA), Salaries are in P, Current Date in AD2.

Every 5 years of employment staff receive an increase (1% for 5 years, 1.5% for 10, 2% for 15 & 2.5% for 20 & over).

In AI I am using =DATEDIF(AA6,$AD$2,"y") to determine the Service Years, AJ I am using =MOD(AI6,5)=0 to determine if AI is evenly divisible by 5 (True or False). I am now looking for a formula that will calculate the % increase based on 5, 10, 15, or 20+ years.

Thank you so much,

lisakay

If the # of years of service is in AI6, try using this formula to calculate the %

=IF(AI6>=20,0.25,IF(AI6>=15,0.2, IF(AI6>=10,0.15,IF(AI6>=5,0.1,0))))

Thank you both. I ended up using Ron's formula as it also gave me an #N/A for 0 years of service. Also Coolfundaz' needs to be adjusted for the correct percentage, which I did, but gave me 2.5% for 0 years of service.