How to write formula for a growth factor

Hi all,

This is going to be a doozy so get ready. I am trying to write a formula which calculates wages annually that happen every March a person is employed. I created a row for the annual raise % that connects to a scenario table. I also have all the calculations built for the wages but I want to connect the annual raise growth factor to the wage. So it will look something like this -- ((wage)*(1+annual raise %)^(no. of years they've been employed).

The issue that is occurring is whenever I write a formula, it doesnt take into the other months that should have a raise or calculates the new yearly raise in January and February which should not happen. The raise should happen in March and should be reflected from March through February of the following year then it should increase the next March. So on and so forth until the Employee has an end date.

Example formula
UMIFS($I$3:$I$96, $B$3:$B$96, $B4, $G$3:$G$96, "<="&M$2, $H$3:$H$96, ">="&EOMONTH(M$2,0)) + SUMIFS($I$3:$I$96, $B$3:$B$96, $B4, $G$3:$G$96, "<="&M$2, $H$3:$H$96, "") * (1+0.04)^(IF(DATE(YEAR(Current Month) + IF(MONTH(Current Month) >= 3, 1, 0), 3, 1),YEAR(Current Month)-YEAR(Starting Month),0))

Hi Ali,

Thanks for the response. I updated the excel file (named V2) to make it easier to work on.

For the wage section, I manually calculated the expected results underneath the formula I wrote to calculate the base wage.

What I am trying to accomplish is how do I use the base wage with the annual raise choice section. I have the annual raise as a formula that connects to the model input tab on a monthly basis but in reality, the raise only happens every March.