I want to calculate the total salary amount for 20 years, but for each year
the employee has merit increase by 3%

For Example:
The Actual Salary = 14829
After 20 years the actual salary = 26,782.82
The Total salary amount after 20 years = 410,414.60


thanks

A1 = 14829
A2 = '=(a1)*1.03'
copy formula to A2 - A20
A21 = '=SUM(A1:A20)'

HTH
--
Jock Waddington


"Ahmed" wrote:

I want to calculate the total salary amount for 20 years, but for each year
the employee has merit increase by 3%

For Example:
The Actual Salary = 14829
After 20 years the actual salary = 26,782.82
The Total salary amount after 20 years = 410,414.60


thanks

As Jock's calculation shows, your total salary figure (use =SUM(A2:A21) to
match your total figure) assumes that the employee got a 3% raise at the
beginning of the first year, instead of the end. That means that the
employee was initially making 15273.87 instead of 14829 during this 20 year
period. Is that what you really intended?

Clearly Jock's "hammer and tong" approach is useful for ensuring that your
assumptions match your reality. Moreover, it is the most practical approach
if the raises were not assumed to be a constant percentage over the 20 year
period.

Regardless of when the first raise occurred, you can calculate the total
salary (with constant percentage raises) by analogy with an investment or
loan, by using the FV function.
=FV(3%,20,-14829,,1)
will return your value of 410,414.60
=FV(3%,20,-14829)
will return Jock's value of 398,460.78

Jerry

"Ahmed" wrote:

I want to calculate the total salary amount for 20 years, but for each year
the employee has merit increase by 3%

For Example:
The Actual Salary = 14829
After 20 years the actual salary = 26,782.82
The Total salary amount after 20 years = 410,414.60


thanks