Compound Interest Calculator | Calculating Interest Rate for Compounding | Calculating time required to reach goal |
The formula for calculating time required to reach goal: t =ln(F/p)/(ln(1+r/n)n)
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Example usage:
If you start a bank account with $1300 and your bank compounds the interest quarterly at an annual nominal interest rate
is 4.8%
. Your savings goal is $1900. Using the formula above, with P = 1300,
F = 1900, n = 4, and r = 4.8: t=ln(1900/1300)/(ln(1+0.048/4)X4).So, the investment period is
8 years. Top Use: Compound Interest:Calculate time required - Principal:200 Future:10000 Interest Rate:8 Recent user inquiry:
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