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Apr 14 2013 09:14pm
A person received a starting salary of 38,000$ and every year there is an increase of 3%, after ten years what is the total amount she will receive?
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Apr 14 2013 10:06pm
you should have a formula for this. its a pretty basic one, but i havent used in in forever. if not you can do each year individually. ex: 38000*1.03=39140 39140*1.03 =40314.2


etc etc for 10 years
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Apr 14 2013 10:56pm
first year = 38,000
2nd year = 38,000*1.03
3rd year = 38,000*1.03*1.03 = 38,000*1.03^2
4th year = 38,000*1.03^3
...
10th year = 38,000*1.03^9

sum of all the years is:
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Apr 14 2013 11:08pm
Quote (Azrad @ 15 Apr 2013 04:56)
first year = 38,000
2nd year = 38,000*1.03
3rd year = 38,000*1.03*1.03 = 38,000*1.03^2
4th year = 38,000*1.03^3
...
10th year = 38,000*1.03^9

sum of all the years is:
http://s24.postimg.org/4q39aqos5/Capture.png


since you love to simplify
why not eliminate the separate term and run the sum from 0 to 9 :D
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Apr 14 2013 11:10pm
Quote (brmv @ Apr 14 2013 10:08pm)
since you love to simplify
why not eliminate the separate term and run the sum from 0 to 9  :D


lol oh yeah, heh
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