an employee is paid $3600 for the first month. she is paid an additional 1% at the end of the second month, which means a total of $3636. she continues to receive a 1% raise each month for a full year. what is her total salary at the end of the year?

Question

an employee is paid $3600 for the first month. she is paid an additional 1% at the end of the second month, which means a total of $3636. she continues to receive a 1% raise each month for a full year. what is her total salary at the end of the year?

Answer 1

1 - 3600

2 - 3636
3 - 3672.36
4 - 3709.08
5 - 3746.17
6 - 3783.64

Carry on from here. Multiply each month's salary by 1.01.

Answer 2

that's dumb

is there a different way to do it?
with a formula?

Answer 3

To find out the employee's total salary at the end of the year, we need to calculate the salary for each month and then sum them up.

Let's break it down step-by-step:

Step 1: The employee is paid $3600 for the first month.

Step 2: At the end of the second month, the employee receives an additional 1%. This means the salary for the second month is $3600 + (1% * $3600).

Salary for the second month = $3600 + (1% * $3600) = $3600 + ($36) = $3636.

Step 3: From the third month onwards, the employee receives a monthly 1% raise on the previous month's salary.

To find the salary for each month from month 3 to month 12, we can use the following formula:

Salary for current month = Salary for previous month + (1% * Salary for previous month)

Using this formula, we calculate the salary for each month:

Salary for third month = $3636 + (1% * $3636)
Salary for fourth month = Salary for third month + (1% * Salary for third month)
...
Salary for twelfth month = Salary for eleventh month + (1% * Salary for eleventh month)

Step 4: Calculate the salary for each month and sum them up.

Now let's calculate the salary for each month:

Salary for third month = $3636 + (1% * $3636) = $3636 + ($36.36) = $3672.36
Salary for fourth month = $3672.36 + (1% * $3672.36) = $3672.36 + ($36.72) = $3709.08
...
Salary for twelfth month = $4479.47 + (1% * $4479.47) ≈ $4527.26

Finally, we sum up the salaries for all the months from the first month to the twelfth month:

Total salary at the end of the year = $3600 + $3636 + $3672.36 + ... + $4527.26

Now, we can calculate the sum of these salaries to find the employee's total salary at the end of the year.

Answer 4

To find the employee's total salary at the end of the year, we need to calculate her salary for each month and then sum them up.

1. For the first month, the employee is paid $3600.

2. In the second month, she receives an additional 1% of her initial salary ($3600 * 0.01 = $36), making her total salary for the second month $3600 + $36 = $3636.

Now, we have established a pattern where the salary increases by 1% each month.

3. To calculate the salary for the third month, we need to add 1% of her previous salary ($3636 * 0.01 = $36.36) and her previous salary ($3636), making her total salary for the third month $3636 + $36.36 = $3672.36.

4. Following the same pattern, for the fourth month, we add 1% of her previous salary ($3672.36 * 0.01 = $36.7236) and her previous salary ($3672.36), making her total salary for the fourth month $3672.36 + $36.7236 = $3709.0836.

5. We continue this calculation for all 12 months.

To simplify the process, we can use a loop or a formula. In this case, we can use a formula to calculate the salary for the nth month:

Salary_n = Salary_(n-1) + 1% * Salary_(n-1)

6. Plugging in the values, we can calculate the salary for each month and sum them up to get the total salary for the year:

Total Salary = Salary_1 + Salary_2 + Salary_3 + ... + Salary_12

Using the formula above, we can calculate each month's salary and sum them up to find the total salary at the end of the year.