roy gets a job at lifeguard at a local swimming pool his salary is £22000 a year and a 5% pay rise every year for the next 3 years work out roy’s salary after 3 years give you answer to the nearest pound

Roy's salary increases by 5% each year. To calculate his salary after 3 years, we can use the formula for compound interest, since each year's salary is based on the previous year's increased amount:

\[
S_n = S_0 \times (1 + r)^n
\]

Where:
- \( S_0 \) is the initial salary (£22,000),
- \( r \) is the annual increase rate (5% = 0.05),
- \( n \) is the number of years (3).

### Step 1: Calculate the salary after 3 years

\[
S_3 = 22000 \times (1 + 0.05)^3
\]

\[
S_3 = 22000 \times (1.05)^3
\]

Let’s calculate this.Roy's salary after 3 years, including the 5% pay rise each year, will be approximately **£25,468**.

Would you like further details or have any questions?

Here are 5 related questions to expand on this topic:
1. What will Roy's salary be after 5 years with the same annual increase?
2. How much total salary will Roy earn over the next 3 years?
3. What if the annual increase was 7% instead of 5%?
4. How does a 5% pay rise compare to a flat annual bonus of £1,000?
5. What is the difference between a percentage increase and a flat amount increase?

**Tip:** Compound growth means each year's increase builds on the previous year's total, which can significantly add up over time.

Roy gets a job as a lifeguard at a local swimming pool. His salary is £22,000 a year with a 5% pay rise every year for the next 3 years. Work out Roy’s salary after 3 years, giving your answer to the nearest pound.

Learn how to calculate Roy's salary after 3 years, starting with an initial salary of £22,000 and a 5% annual pay rise. This problem involves the compound growth formula, commonly used in finance and percentage-based problems. Suitable for students in Grades 9-11.

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