IF Formula not returning correct value

Hi friends

I have attached the example worksheet. Cell AF7 should calculate 41,310 but it's adding 3.75% which is incorrect. Am I missing something in formula?

Thanks for your time

You are gonna have to explain a lot more before anyone can be of any help.
We have no idea what you're calculating or how. And there's multiple nested ifs in that cell.

Or better yet, decompose the formula yourself, to see at which step the calculation is wrong.

Just like they teach you in math class - you start going down the steps of your problem solution, to see where exactly you made the mistake that gives you the wrong result.

Use the Formulas > Evaluate Formula to step through the evaluation of AF7. Perhaps that will help you see your mistake, either in the design of the formula or in you expectations.