If an employee starts saving with $750 and increases his savings by 8% each month, what will be his

If an employee starts saving with $750 and increases his savings by 8% each month, what will be his total savings after 10 months?

Set up the savings function S(m), where m is the number of months and I is the interest rate growth:
S(m) = Initial Amount * (1 + i)^m

Plugging in our number at m = 10 months we get:
S(10) = 750 * (1 + 0.08)^10
S(10) = 750 * 1.08^10
S(10) = $1,619.19