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    fazlieman gurahman
    The document describes how to calculate the salary of a person who receives a 5% yearly increase. It provides the formula to calculate salary based on initial salary and number of years. For a starting salary of $18,000, with annual 5% increases, the salary after 30 years would be $74,090.44.

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    Math Forum - Ask Dr. Math

    Uploaded by

    fazlieman gurahman
    30 views1 page
    The document describes how to calculate the salary of a person who receives a 5% yearly increase. It provides the formula to calculate salary based on initial salary and number of years. For a starting salary of $18,000, with annual 5% increases, the salary after 30 years would be $74,090.44.

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    The document describes how to calculate the salary of a person who receives a 5% yearly increase. It provides the formula to calculate salary based on initial salary and number of years. For a starting salary of $18,000, with annual 5% increases, the salary after 30 years would be $74,090.44.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    30 views1 page

    Math Forum - Ask Dr. Math

    Uploaded by

    fazlieman gurahman
    The document describes how to calculate the salary of a person who receives a 5% yearly increase. It provides the formula to calculate salary based on initial salary and number of years. For a starting salary of $18,000, with annual 5% increases, the salary after 30 years would be $74,090.44.

    Copyright:

    © All Rights Reserved
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    Associated Topics || Dr. Math Home || Search Dr.

    Math

    Salary at 5 Percent Yearly Increase

    Date: 9/11/96 at 16:49:53


    From: Anonymous
    Subject: Salary at 5 percent Yearly Increase

    Dr. Math,

    If Martin started with a company at an annual salary of $18,000, and


    he gets an increase of 5 percent at the end of every year, at this
    growth rate, what would Martin's salary be in his 30th year with his
    company?

    I started with the formula S (sub n)=18,000(1.05)^(n-1)

    What do I supply for n? Also, what would be the first 3 terms of the
    sequence?

    Thank you,
    Emily Pawlosky

    Date: 9/11/96 at 18:52:50


    From: Doctor Tom
    Subject: Re: Salary at 5 percent Yearly Increase

    Hi Emily,

    Here's how I'd approach the problem (I'll use '*' for multiplication
    and '^' to indicate exponentiation):

    In year 1, he earns 18000


    In year 2, he earns 18000*1.05
    In year 3, he earns 18000*(1.05)^2
    In year 4, he earns 18000*(1.05)^3

    and so on, so during the 30th year, he'll be earning 18000*(1.05)^29.

    I plugged this into my calculator, and it's $74090.44 in the 30th


    year.

    I don't know what you mean by the first 3 terms of this, unless
    the question was, "how much total money does he earn in all 30
    years?" If that's the question, the answer is:

    18000 + 18000*(1.05)^1 + 18000*(1.05)^2 + ... + 18000*(1.05)^29.

    -Doctor Tom, The Math Forum


    Check out our web site! http://mathforum.org/dr.math/

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