Posted by **PDF** on Thursday, February 9, 2012 at 1:02am.

A man accepts a position at Php9000 a month with the understanding that he will receive an increase of 10% a year computed on the previous years salary. Form an equation that will compute how much he will receive a month after 10 years of service.

- MATHEMATICS_algebra -
**Reiny**, Thursday, February 9, 2012 at 7:51am
I will assume that the salary increases annually and is then divided by 12 (that's what they used to do to mine)

at start, annual salary = Php 108000

end of year 1 : 108000(1.10) = 118800

end of year 2 : 108000(1.10)^2 = 130680

...

end of year 10 = 108000(1.10)^10 = 280124.19

so monthly salary after 10 years

= ( 108000(1.10)^10 ) /12

= 23343.68

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