How many years will the following take?
$210 to grow to $21,908 if invested at 4.79 percent, compounded
annually
Using Future value formula Calculated number of periods
FV= future value = 21908
PV= present value = 210
r= rate of return = 4.79
n= number of periods
FV= PV (1+r)^n
21908= 210 (1+0.0479) ^n
210 (1+0.0479) ^n= 21908 / 210
In (1+0.0479) ^n = In 104.323809
n= 4.647499610 /0.046788161
n= 99.331
Note: both side used natural logarithm (In) and n= 99.331 is correct answer to get 21908 future value or Present Value 210
How many years will the following take? $210 to grow to $21,908 if invested at 4.79...
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