You want to know how many years it will take you to accumulate $1,216.65 if...
80.2K
Verified Solution
Link Copied!
Question
Accounting
You want to know how many years it will take you to accumulate $1,216.65 if you invest $1,000.00 in an investment that pays annual interest at 4%.
a) Use the NPER function in Excel to calculate the number of periods if you invested $1,000 today in an investment that pays 4% and will accumulate $1,216.
b) Now use the present value or future value tables as shown in the text to calculate the number of years is will take.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
