Re: Function for decreasing salary by 2.5%

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On Thu, 8 Sep 2005 09:23:04 -0700, "Julie"
<Julie@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote:

>I get salary information for 2005. I want to take that salary back in time
>for five years by decreasing the amount by 2.5% per year. When I use the
>formula 44,863*(1-0.025) I get 43,742. But when I multiply 43,742 by 2.5% I
>get 1093.55. That number added to 43,742 is 44,836 (rounded), not 44,863.
>What am I doing wrong? (I submitted this question last night, but I cannot
>locate it anywhere and have not been notified of any replies, so I may or may
>not have submitted it properly. If duplicated elsewhere please excuse.)


So, the salary has been increasing by 2.5% each year and is now
44,863. You'd like to know what the salary has been for each of the
past five years. You get that by dividing 44,863 by 1.025, which would
equal 2004's salary.

last year = 44863/1.025 = 2004
2003 = 2004/1.025
2002 = 2003/1.025

etc.

Jim
.

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