Question 698913
You can get to a formula using step-by-step
Use {{{ x }}} for now instead of the $20,000
Year 1: 
{{{ x }}}
Year 2:
{{{ x + .05x }}}
Year 3:
{{{ ( x + .05x ) + .05*( x + .05x ) }}}
{{{ ( x + .05x )*( 1 + .05 ) }}}
{{{ x*( 1 + .05 )*( 1 + .05 ) }}}
{{{ x*( 1 + .05 )^2 }}}
Year 4:
{{{ ( x + .05x ) + .05*( x + .05x ) + .05*( ( x + .05x ) + .05*( x + .05x ) ) }}}
{{{ ( 1 + .05 )*( ( x + .05x ) + .05*( x + .05x ) ) }}}
{{{ ( 1 + .05 )*( 1 + .05 )*( x + .05x ) }}}
{{{ x*( 1 + .05 )^3 }}}
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The formula looks like
{{{ x*( 1 + .05 )^( n - 1 ) }}} where {{{ n }}} is the number of years
Plugging in numbers:
{{{ 20000*( 1 + .05 )^9 }}}
{{{ 20000*( 1 + .05 )^9 = 20000*1.55133 }}}
{{{ 20000*1.551328 = 31026.56 }}}
Salary after 10 years = $31,026.56