Jakki got a new job that guarantees her a 6% raise every year. If she started out making $40,000, how long will it be before she doubles her current salary?
PV=40000; FV=80000; P=0;R=0.06; a= (log(FV/PV) )/log(R + 1);print"N =",a
N = 11.89566105 =~12 years to double her salary.
+37146 80000 = 40000 (1+.06)n solve for 'n'
2 = 1.06n
log2 / log 1.06 = n = .......... years
