Compound interest - long term investments
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Compound interest - long term investments

[From: ] [author: ] [Date: 11-12-12] [Hit: ]
the interest rate is 1.5%-20,000 = 10,200 ( 1 + .Solve for n,n = ln(200/102)/ln(1 + .......
If you invest $10,200 in Japan, and the interest is compounded monthly, how many months will it take for your investment to grow to $20,000?

the interest rate is 1.5%

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20,000 = 10,200 ( 1 + .015/12)^n
Solve for n,
n = ln(200/102)/ln(1 + .015/12) = 539 months
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Attn: 1.5% is assumed to be annual interest rate.
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