title: Excel formula to calculate value every five years based on years of service
body: <p>I need an Excel formula where .5% is added to an individual's bonus payout every 5 years of service.</p>
  
  <p>Example:  John Doe was hired in 2010, in 2015 he will receive .5% increase every year until he reaches 10yrs of service in which he will then receive 1% each year until he attains 15yrs of service in which he will then receive 1.5%, etc..</p>