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    • Join Date: May 2008
    • Posts: 1,157
    #1

    pay $100 in equal increments every month

    Hello.

    "pay $100 in equal increments every month"

    What does this mean?
    Does it mean that, for example, you pay $10 in May, $20 in June, $30 in July, and $40 in August?

    Pharmacyclics could earn $39.5M in alliance with French company - Silicon Valley / San Jose Business Journal:
    Pharmacyclics will receive from Servier up-front payments totaling $11 million on signing the contract and an additional guaranteed $4 million for research collaboration over a 24-month period, paid in equal increments every 6 months with the initial payment due Oct. 1, 2009.

  1. Barb_D's Avatar
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    • Join Date: Mar 2007
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    #2

    Re: pay $100 in equal increments every month

    No, equal increments means the same each month.

    If it's 4 million over 24 months in equal increments every six months, then $1 million will be paid Oct 2009, $1 million April 2010, $1 milllion Oc 2010, and $1 million April 2011.

    {not a teacher}


    • Join Date: Nov 2007
    • Posts: 5,409
    #3

    Re: pay $100 in equal increments every month

    Except that the reporter does not understand the meaning of 'increment'.

    The appropriate word here is 'installment'. Just how the whole deal then totals $39.5M........?


    • Join Date: May 2008
    • Posts: 1,157
    #4

    Re: pay $100 in equal increments every month

    David,

    Could you show me some correct examples of "equal increments"?


    • Join Date: Nov 2007
    • Posts: 5,409
    #5

    Re: pay $100 in equal increments every month

    Apprentices are paid $100 a week when they start, with an annual increment of $10 per week, so that in my fifth year, I'll be earning $150 every week!

    I owe him $100, and he says it's OK to pay him back in four installments of $25 a month.


    • Join Date: May 2008
    • Posts: 1,157
    #6

    Re: pay $100 in equal increments every month

    Quote Originally Posted by David L. View Post
    Apprentices are paid $100 a week when they start, with an annual increment of $10 per week, so that in my fifth year, I'll be earning $150 every week!

    I owe him $100, and he says it's OK to pay him back in four installments of $25 a month.
    Isn't $50 correct?


    • Join Date: Nov 2007
    • Posts: 5,409
    #7

    Re: pay $100 in equal increments every month

    increment: Latin 'incrementum' - to grow, increase.
    I start out earning $100 per week...and after an annual pay increase of $10 per week, after 5 years I end up earning $50 per week????


    • Join Date: May 2008
    • Posts: 1,157
    #8

    Re: pay $100 in equal increments every month

    David,

    Thank you for the response.
    I'm not good at math, so I wouldn't be able to make out what you're saying. Sorry about that.

  2. Barb_D's Avatar
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    #9

    Re: pay $100 in equal increments every month

    I must write 100 times "do not answer posts close to midnight."

    I somehow completely missed the "increments" versus "installments." I can only take a little solace in the fact that reporter did too.


    • Join Date: May 2008
    • Posts: 1,157
    #10

    Re: pay $100 in equal increments every month

    Quote Originally Posted by David L. View Post
    increment: Latin 'incrementum' - to grow, increase.
    I start out earning $100 per week...and after an annual pay increase of $10 per week, after 5 years I end up earning $50 per week????

    Each week in the 1st year: $100 + $10 = $110
    Each week in the 2nd year: $100 + $20 = $120
    Each week in the 3rd year: $100 + $30 = $130
    Each week in the 4th year: $100 + $40 = $140
    Each week in the 5th year: $100 + $50 = $150

    Am I correct?

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