To calculate this, all we need to do is 150 * 0.125 ≈ 18.75 which rounds to 19. We round to the nearest integer because you can't land on the 4 18.75 times.
Hi there The formula is A=p (1+r)^t A future value 11700 P present value 900 R interest rate 0.0875 T time? We need to solve for t T=log (A/p)÷log (1+r) So T=log(11,700÷900)÷log(1+0.0875) T=30.6years round your answer to get T=31 years
