Discussion Calculate 3% salary raise over left retirement years in Excel
https://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029595#M124645
<P>i would like to calculate how much will cost the company the sum of 3% raise of the basic salary over the left years to retirement.</P><P> </P><P>For example suppose in 2021 i get $500 as basic salary, and in 2022 I'll get 3% raise of the $500 = $515, and so on. so i wan to know how much the total of this raise will be on my retirement year lets assume retirement year will be in 2025?</P><P> </P><P>is there any formula to calculate this?</P>Fri, 03 Dec 2021 06:41:50 GMTammaralfarsi2021-12-03T06:41:50ZCalculate 3% salary raise over left retirement years
https://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029595#M124645
<P>i would like to calculate how much will cost the company the sum of 3% raise of the basic salary over the left years to retirement.</P><P> </P><P>For example suppose in 2021 i get $500 as basic salary, and in 2022 I'll get 3% raise of the $500 = $515, and so on. so i wan to know how much the total of this raise will be on my retirement year lets assume retirement year will be in 2025?</P><P> </P><P>is there any formula to calculate this?</P>Fri, 03 Dec 2021 06:41:50 GMThttps://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029595#M124645ammaralfarsi2021-12-03T06:41:50ZRe: Calculate 3% salary raise over left retirement years
https://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029674#M124653
<P><LI-USER uid="1237741"></LI-USER> </P>
<P>Let's say the starting salary 500 is in A2, the yearly raise 3% is in B2 and the number of years 5 (2021-2025) is in C2.</P>
<P>The total amount is =A2*((1+B2)^C2-1)/B2</P>
<P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="S0960.png" style="width: 387px;"><img src="https://techcommunity.microsoft.com/t5/image/serverpage/image-id/331411i1095A1235F24FBCE/image-size/large?v=v2&px=999" role="button" title="S0960.png" alt="S0960.png" /></span></P>
<P>See <A href="https://en.wikipedia.org/wiki/Geometric_series" target="_blank" rel="noopener">Geometric series</A> </P>Fri, 03 Dec 2021 08:30:22 GMThttps://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029674#M124653Hans Vogelaar2021-12-03T08:30:22ZRe: Calculate 3% salary raise over left retirement years
https://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029675#M124654
<P><LI-USER uid="1237741"></LI-USER> </P><P><SPAN class=""><SPAN class=""><SPAN>Here is a simple and quick example, you could also do it with the interest calculation formula </SPAN></SPAN></SPAN></P><P><SPAN class=""><SPAN class=""><SPAN>... but with the simple formula it was faster :)).</SPAN></SPAN> </SPAN></P><P><SPAN class=""><SPAN class=""><SPAN>Example in the inserted file.</SPAN></SPAN> </SPAN></P><P> </P><P><SPAN class=""><SPAN class=""><SPAN>Hope to have helped you with this.</SPAN></SPAN> </SPAN></P><P> </P><P><SPAN class=""><SPAN class=""><SPAN>I also wish you a lot of fun and success with Excel.</SPAN></SPAN></SPAN></P>Fri, 03 Dec 2021 08:33:41 GMThttps://techcommunity.microsoft.com/t5/excel/calculate-3-salary-raise-over-left-retirement-years/m-p/3029675#M124654NikolinoDE2021-12-03T08:33:41Z