;
Learning starts with a question. Asking is a signal for knowledge request!
First time here? Checkout the FAQs!
x

*Math Image Search only works best with SINGLE, zoomed in, well cropped images of math. No selfies and diagrams please :)

0 like 0 dislike
231 views

I am trying to find a way to get the compounded percentage of a percent.  So if my company gives raises of 3.5% annually and they withhold rases for a period of 8 years the ending percent short would not be 3.5% X 8 because of compounding.  I can do this using my original salary in the year they stopped the raises but that would only work for my pay and not for everyone.  What I'm thinking is there has to be a way to find what this would be. So the first year I would be 3.5% short and the second year I would be 3.5% + 3.5% with a year compounded so overall with 2 years it would say 7.12% and for the 3rd year would be something like 10.98 or something along those lines. This way at the end of the 8 years I would have a true total percentage short for anyone. 

 

A = P(1 + r/n)nt
A = 30,000.00(1 + 0.035/1)(1)(8)
A = 30,000.00(1 + 0.035)(8)
A = $39,504.27

This would give me the dollar amount on a salary of 30K but is not applicable to people making a different amount. If I'm able to get the total compounded percentage short of 8 years without the annual 3.5% I would be able to take that number and apply it to anyone's salary to get an exact amount for everyone.  I cant take 28% and apply it to everyone because it would not take into account the correct compounding over the years for everyone's salary.

 

Thank you very much, I have searched and searched and cannot find what I'm looking for,

in Mathematics by | 231 views

Related questions

1 like 0 dislike
1 answer
1 like 0 dislike
1 answer
0 like 0 dislike
1 answer
asked Feb 16, 2022 in General Knowledge by AstraNova Diamond (58.4k points) | 300 views
1 like 0 dislike
1 answer
1 like 0 dislike
1 answer
0 like 0 dislike
1 answer
0 like 0 dislike
1 answer
asked Jan 16, 2022 in General Knowledge by AstraNova Diamond (58.4k points) | 266 views
0 like 0 dislike
1 answer
asked Jan 16, 2022 in General Knowledge by AstraNova Diamond (58.4k points) | 333 views
2 like 0 dislike
1 answer
asked Sep 6, 2021 in Mathematics by Siyavula Wooden Status (4.2k points) | 545 views
0 like 0 dislike
1 answer
0 like 0 dislike
0 answers
0 like 0 dislike
1 answer
asked May 23 in Mathematics by MathsGee Platinum (101k points) | 165 views

Join MathsGee Q&A, where you get instant answers to your questions from our AI, AstraNova and verified by human experts. We use a combination of generative AI and human experts to provide you the best solutions to your problems.

On the MathsGee Q&A, you can:

1. Get instant answer to your questions

2. Convert image to latex

3. AI-generated answers and insights

4. Get expert-verified answers

5. Vote on questions and answers

6. Tip your favorite community members

7. Join expert live video sessions (Paid/Free)

8. Earn points by participating

9. Take a course

10. Enjoy our interactive learning resources


Posting on the MathsGee Q&A

1. Remember the human

2. Act like you would in real life

3. Find original source of content

4. Check for duplicates before publishing

5. Read the community guidelines


MathsGee Q&A Rules

1. Answers to questions will be posted immediately after moderation

2. Questions will be queued for posting immediately after moderation

3. Depending on the number of messages we receive, you could wait up to 24 hours for your message to appear. But be patient as posts will appear after passing our moderation.


MathsGee Q&A


Acalytica


Social Proof


Web Analytics


Courses