Nested IF In Worksheet

I want to get the result in D1 cell. In A1 Pay Amount, B1 Date of increment, C1 Pay month is written. I want D1 to be filled with new Pay. I change B1 looking at one's date of increment. Initially, the Pay is 10000 to be put in D1(as is done). But, if B1 cell is changed, then 3% of A1 should be added to that particular month every year for 12 months. E.g. if I change B1 to 01/05/06, then till D4, pay should be 10000 and in D5 pay should be 10300 for the next 12 months and again 3% of 10300 for the next 12 months i.e a change of Pay should be in D17, D29 and so on. As because, in the nest IF condition, 7 IFs are available, how best can I solve this? Is it possible in Excel?

A B C D
10000 01/01/06 01/01/06 10000
01/02/06 10000
01/03/06 10000
01/04/06 10000
01/05/06 10300
01/06/06 10300
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01/12/06 10300
01/01/07 10300
01/02/07 10300.................