<?php
$age = 16;
$percent = 1.1;
for ($money = 10000; $money <= 1000000; $money *= $percent) {
    $age += 1;
}

if ($age > 60) {
    echo "Не доживет. Возраст = $age";
} else {
    echo "Доживет. Возраст = $age";
}