second induction

[manwonders]

I want to prove on the induction that
the money will be enough still for 40 years with the this year's consumption,
including this year. How long time would they last if the consumption increased by 5% every year?

is it like this? ;
first year 1 * 1,05=y + ( second year ) 1,05 * y ...

 

[Deleted member 4993]

I want to prove on the induction that
the money will be enough still for 40 years with the this year's consumption,
including this year. How long time would they last if the consumption increased by 5% every year?

is it like this? ;
first year 1 * 1,05=y + ( second year ) 1,05 * y ...

Please write the EXACT question as it was presented to you. I cannot figure out the "givens" of the is question. Also please state from what level of mathematics this homework was selected.