Explore BrainMass

Applying a Percentage Increase to Salary over a Number of Years

A person's annual salary starts out at $30,000. Find a formula for the person's salary t years later, and then find the salary after 5 years and after 30 years.

(a) Each year, the person receives a 5% raise.


Solution Summary

A percentage increase to is applied to a salary over a number of years. The solution is detailed and well presented. The response received a rating of "5/5" from the student who originally posted the question.