Ask Question
29 October, 23:48

The salary of an employee is 500$. Knowing that the annual raise of salary is 10 %. then his salary after 2 years is

+5
Answers (2)
  1. 29 October, 23:53
    0
    using the formula of compound interest:

    500 * (1 + (10/100) ^2

    500 = money

    1 = interest, so the multiplier has to be above 1

    10/100 = 0.10 + 1 = 1.1 = multiplier

    ^2 = years

    then we get

    500 * (1.1) ^2

    1.1^2 = 1.21

    =605
  2. 29 October, 23:57
    0
    The answer is 605 dollars. I could be wrong.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The salary of an employee is 500$. Knowing that the annual raise of salary is 10 %. then his salary after 2 years is ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers