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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 | 67 views

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