Question 1070078
f = p * (1 + r) ^ n


f is the future value.
p is the present value.
r is the interest rate per time period.
n is the number of time periods.


your time periods are in years.


formula becomes:


100,000 = p * 1.04 ^ 15


solve for p to get p = 100,000 / (1.04 ^ 15).


you will get p = 55,526.45027.


that's what you should start with.


in 15 years, that salary will be equal to 100,000 a year.