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September 22, 2014

September 22, 2014

Posted by **ahmed** on Wednesday, March 14, 2012 at 3:28am.

- mpf -
**Henry**, Thursday, March 15, 2012 at 12:24pmPt = Po(1+r)^n.

r = (8% / 4) / 100% = 0.02 = Quarterly

% rate expressed as a decimal.

n = The # of compounding periods.

Pt = $500(1.02)^n = $700.

(1.02)^n = 700 / 500 = 1.40.

n*Log(1.02) = Log(1.40).

n = LOg(1.40) / Log(1.02) = 16.991.

T = 16.991Comp. / 4Comp./yr=4.25 Yrs.

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