Fv=13,000; i=0.05; PMT=500; n=?,
We have to assume a few things here: that i is compounded annually, that the $500 deposit is made annually and at the end of each year. If that is the case your answer n?, will be the number of years. If you change ANY one of them from the above, then the answer will be different.
So, given those provisions i just mentioned, then the answer will be:
n=17.0713 Years. Lets knows if they are monthly deposits......etc.
