# Add yearly % increase to lookup result

#### william11

##### New Member
Hi,

Every year each customers locker fees increases by 5%

I need this equation in cell N4:

to increase by 5% for every year that passes in cell J4 (date format 1/1/1900).

I hope this is possible, thank you.

### Excel Facts

Format cells as date
Select range and press Ctrl+Shift+3 to format cells as date. (Shift 3 is the # sign which sort of looks like a small calendar).

#### NeonRedSharpie

##### Well-known Member
Code:
``=(EXISTING FORMULA)+0.05*(year(now())-year(J4))``

#### william11

##### New Member
Code:
``=(EXISTING FORMULA)+0.05*(year(now())-year(J4))``

Thank you for the response.

The formula you provided adds 5 cents (.05) per year. I need the \$33.00 locker fee to increase by 5% for every year it has been leased.. exponentially.

=(LOOKUP(F5,Table3)+LOOKUP(G5,Table3[#All])+'Add a locker'!\$H5)+0.05*(YEAR(NOW())-YEAR(J5)) that what it looks like when I plug it in

year 1 = \$33 * .05 = \$1.65 + \$33 = \$34.65

year 2 = \$34.65 * .05 = \$1.73 + \$34.65 = \$36.38

year 3 = \$36.38 * .05

#### NeonRedSharpie

##### Well-known Member
Then just change the formula slightly....

Code:
``=[FORMULA HERE]*(1+(5%*(YEAR(NOW())-YEAR(J4))))``

#### william11

##### New Member
Then just change the formula slightly....

Code:
``=[FORMULA HERE]*(1+(5%*(YEAR(NOW())-YEAR(J4))))``

Thank you for you help, but your formula only works for year 1 because you are multiplying 5% by 1. Once you reach 2 years and beyond the formula will no calculate correctly. But thanks for the format, once I figure the correct math equation it will work perfectly. I think I need to add a Simplified Compound Interest equation.

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