Investment = 600
Future Value = 900
Quarterly Compounding
Rate = 6%/4=1.5%perquarter
FutureValue=Investment×(1+InterestRate)NFutureValue=Investment×(1+InterestRate)N900=600×(1.015)N
900=600×(1.015)N1.5=(1.015)N
Taking log on both sides
Log(1.5)/Log(1.015)=N
N = 27.23 quarters or 6.80 years
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