Can someone solve and explain how you got your answer

Naomi’s parents want to have 50,000, saved for her college education, if they invest 20000 today and earn 7% interest compound annually, about how long will it take them to save 50 thousand

Question 13 (1 point) jerome is starting a new job. his contract states he will earn $42,000 the first year, and will get a 4% raise per year. which function s(x) represents jerome's salary after a certain number of years, x?

I’m still confused on how to work the percentages