Using the example above, let's work out how long it will take for an initial investment of $25,000 to reach $65,000.
LN(total amount after growth/current amount )/LN(1 + interest rate represented as a multiplier)= Time in years to hit the specific amount
LN($65,000/$25,000)/LN(1 + 1.10)=10.0252821576 (approximately 10 years).
|Annual percentage rate (APR)||10%|
Time to hit goal (using LN)
LN(Investment goal/Initial investment)/LN(1 + 'Annual percentage rate(APR)')