I don't know which formula to use.. :/
Here's the problem:
"Do you expect to live long enough to be a millionaire? Suppose that your annual salary today is $52,000. If inflation continues at 6%, how long will it be before $52,000 increases to an annual salary of a million dollars?"
Here's the problem:
"Do you expect to live long enough to be a millionaire? Suppose that your annual salary today is $52,000. If inflation continues at 6%, how long will it be before $52,000 increases to an annual salary of a million dollars?"