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MATHEMATICS_algebra

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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 -

    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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