Problem with % increase based on certain date

I have monthly price calculation sheet for few years and on cell E9 I have put a 3% annual price increase for doctor's fee and on cell F9 i have put the date from when I price increase should pick up.

Now, I have used the following formula to =MAX(IF(I6=1,$H$9*((1+($E$9))^((I3-$F$9)/365)),H9),1) to sort of show the value/factor of price increase

My base doctor fee is 500 which is shown in row 12 and on row 13 I multiply base price with price increase factor on row 9.

The problem is ---- with this formula although the price increase should be 3% annually starting 2025 but I see only 0.02% increase starting 2025 and the full 3% price increase is picks up on 2026.

Any help to correct the formula so that the price increase capture full 3% starting 2025 would be great help