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Re: Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
even i have the same question how to calculate 1.05^19 fast.
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Re: Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
Expert Reply
tabishkazi wrote:
even i have the same question how to calculate 1.05^19 fast.


Please keep in mind that this is the DI section, and you can use the calculator here. There is no need to calculate it manually.

Best.
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Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
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Official Explanation

If Mike accepts the offer from Acme Anvils, his year 20 salary will reflect 19 increases of 5% and will be $50,000 × 1.0519 = $126,347.51. If he takes the job with Retro Rockets, he will have received 19 raises of $3,000 each, and his salary will be $60,000 + 19 × $3,000 = $117,000.
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Re: Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
­Why 19 ?? why is salary after 1st year not changing.
If the question had been find salary after 1 year, would it still have remained same with no increment ???
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Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
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dazzler97 wrote:
­Why 19 ?? why is salary after 1st year not changing.
If the question had been find salary after 1 year, would it still have remained same with no increment ???

­
Suppose Person Joined the company on 1st January 2023. 
On December 31st 2023, he will complete 1 year and will get the annual salary of $60,000
Salary at the end of 1 year or after 1 year is $60,000.
Yes salary after 1st year would be without the increment.

Salary at the end of 2 year on December 31st 2024( or after 2 year of joining) will be $60,000+$3000 Bonus
Increment in the salary will only be after 2 year onwards. 

 ­
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Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
Sajjad1994 wrote:
tabishkazi wrote:
even i have the same question how to calculate 1.05^19 fast.


Please keep in mind that this is the DI section, and you can use the calculator here. There is no need to calculate it manually.

Best.

­Hi 
Indeed, there is a calculator available in the DI section. However, it is a very basic one and there is no square function or any exponent function there. So depsite the fact that there is a calculator, which would definiely make the "final" calculation of 50,000 * 2.526 (=1.05^19) a lot easier, I have no idea how to get the value of 2.526 i.e. 1.05^19 in the first place (obviously entering 1.05*1.05*1.05..... 19 times is out of question for me as it would cost me way too much time). Would you know how we can leverage the calculator to get the approximate value of 1.05^19?

Many thanks.­
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Re: Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
Laracbo wrote:
Sajjad1994 wrote:
tabishkazi wrote:
even i have the same question how to calculate 1.05^19 fast.


Please keep in mind that this is the DI section, and you can use the calculator here. There is no need to calculate it manually.

Best.

­Hi 
Indeed, there is a calculator available in the DI section. However, it is a very basic one and there is no square function or any exponent function there. So depsite the fact that there is a calculator, which would definiely make the "final" calculation of 50,000 * 2.526 (=1.05^19) a lot easier, I have no idea how to get the value of 2.526 i.e. 1.05^19 in the first place (obviously entering 1.05*1.05*1.05..... 19 times is out of question for me as it would cost me way too much time). Would you know how we can leverage the calculator to get the approximate value of 1.05^19?

Many thanks.­

­Vous Utilisez votre cerveau (1.05)^4 = 1.215 alors mutlipliez 1.215 cinq fois i.e 1.215*5/1.05 = (1.05)^19
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Re: Mike is considering job offers from two competing firms. Acme Anvils [#permalink]
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