Salary calculation in the number of years

[EzzEldean]

Hello everyone,

I need your help with a financial matter. I want to calculate the salary of an employee after a number of years let's say 5 years from now. Knowing that his salary in total is 500$ per month and there's an annual increase of 9%. Of course, the manual method is not convenient for me with more than 100 employees which is ( 500*1+9%).
So any ideas for a formula to calculate the salary after x of years with a fixed increase rate?

 

[Legacy 143009]

It is basic compaund formula: base_salary*((1+(percentage/100))^years)

For ex:

=500*((1+(9/100))^5)

 

[bferraz]

On this example A1 is the salary and B1 the amount of years.

=A1*(1+0.09)^B1

 

[EzzEldean]

Hello everyone,

I need your help with a financial matter. I want to calculate the salary of an employee after a number of years let's say 5 years from now. Knowing that his salary in total is 500$ per month and there's an annual increase of 9%. Of course, the manual method is not convenient for me with more than 100 employees which is ( 500*1+9%).
So any ideas for a formula to calculate the salary after x of years with a fixed increase rate?

Thank you both for replying. I was wondering if there is a similar function in excel doing the same job ?

 

[Legacy 143009]

Yes there is a FV function:

=FV(0.09,5,0,-500)

 

[EzzEldean]

Yes there is a FV function:

=FV(0.09,5,0,-500)

Thank you for your usual support

 

[Legacy 143009]

Glad it did work