I'm currently working on settings to make the mod balanced in a way that 10 levels are equal to a step in the boss progression with a Level Cap at level 100 e.g. a post Planterra weapon at level 10 should be as strong as a post Golem weapon. I made some spreadsheets with data on damage, critrate etc. and found a way to achieve that would pretty closely resemble the Terraria progression but got stuck on actually making the right settings in the mod settings.

I want a 4% increase in damage, so i set the 'Upgrade Weapon Damage Mode' to only 'Increase Mult Damage' and the 'Improvement Settings' for 'Damage' to 'Per Level: 1' and 'Per Level Mult' to 4.

With a Weapon like the 'Orange Zappinator' which has a base damage of 100 its clear that the settings are mainly correct as at level 1 it has a damage stat of 104 but on level 100 its 500 damage instead of 5050 it should have if the formula Damage = Basedamage * 1.04**Level which is not the case.

Can somebody explain what the formula is and if its possible to achieve what i explained above.
Thanks in advance :)