How many years will the following take?
$165 to grow to $46,967 if invested at 17.74 percent, compounded
annually.
cash inflow*Present value of discounting factor(rate%,time period)
46,967=165*(1.1774)^n
(46,967/165)=(1.1774)^n
Taking log on both sides;
log (46,967/165)=n*log (1.1774)
n=log (46,967/165)/log (1.1774)
=34.60 years(Approx).
How many years will the following take? $165 to grow to $46,967 if invested at 17.74...