Question: a graduate starts work with an organisation for a salary...
A graduate starts work with an organisation for a salary in year 1 of $K. At the beginning of each subsequent year, his salary increases by 5% plus an additional amount of $500. (So, for instance, if his salary in year 1 was $20,000 then his salary in year 2 will be $21,500.) Determine an expression, in as simple a form as possible, for his salary in year N +1 of his employment.
Determine the range of values of N for which the salary exceeds $(2K+10000).