Lukas is investing $16 000 that he would like to grow to at least $ 100 000 by the
time he retires in 50 years. What annual interest rate, compounded annually, will
provide this?
To answer this problem you first need to subtract 16,000 from 100,000 so 100,000-16,000=84,000. Then divide 84,000 by 50 which leaves you with the answer $1,680
