I am very confused with this problem any help would be appreciated. I know it has to do with some sort of compound interest formula but I been working on this for a week and come up with nothing
Little Mark was given $10,000 at birth from various family members to be invested until his adulthood. The DOW JONES has averaged an annual average growth rate of 10% for the 20th century. If Little Mark invests his $10,000 in a good solid DOW JONES mutual fund which averages 10% growth per year, and then after the first year and every year thereafter ADDS $1000 per year of his own money, how many years will it take for Little Mark to become a millionaire?