+0  
 
0
190
1
avatar

6000 a month @ 10.7% how long will it take to get 470000?

Guest Apr 26, 2017
 #1
avatar
0

6000*{(1.0089166667^N - 1)/ 0.0089166667}=470000
672897. (1.00892^N - 1) = 470000

Divide both sides by 672897.:
1.00892^N - 1 = 0.698472

Add 1 to both sides:
1.00892^N = 1.69847

Take the logarithm base 1.00892 of both sides:
Answer: | N = 59.6733 - Number of months required to accumulate $470,000.

Guest Apr 26, 2017

4 Online Users

avatar

New Privacy Policy

We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive information about your use of our website.
For more information: our cookie policy and privacy policy.