Question
how long would it take 1000 to grow to 5000 if I can get 5% compounded quarterly?
Answers
Anonymous
5/4 = 1.25 percent per quarter
5 = 1.0125^n
ln 5 = n ln 1.0125
n = 130 quarters
= 32.4 years
5 = 1.0125^n
ln 5 = n ln 1.0125
n = 130 quarters
= 32.4 years