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You deposit $10,000 and want it grow to $30,0000. If you can make 2.2% interest compounded...

You deposit $10,000 and want it grow to $30,0000. If you can make 2.2% interest compounded daily, how long will it take in years? Round to two decimal places.

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Answer #1

Where,
Rate = Periodic Interest rate
Nper = No. of periods
pmt = periodic payments
PV= Amount Invested
FV = Future value of amount invested
Type= 0 if the amount paid at the end of period,1 if paid at the beginning.

Please upvote if the answer is helpful.In case of doubt,do comment.Thanks.

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