Learn to find the number of years it takes to reach an amount with compound interest

The video tutorial explains how to solve an investment problem involving compounded interest. It begins by setting up the problem, where an investment of 1.5 million at an 8% interest rate compounded quarterly needs to grow to 3.75 million. The instructor explains the compounded interest formula and demonstrates how to set up the equation with the given values. The tutorial then focuses on solving for the time variable using logarithms, including the change of base formula. The video concludes with a summary and addresses any questions from the audience.

What is the interest rate used in the investment calculation?

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How often is the interest compounded in this scenario?

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What formula is used to calculate the future value of the investment?

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What is the future value that needs to be reached according to the problem?

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What is the principal amount mentioned in the text?

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What steps are taken to isolate the variable T in the calculation?

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What is the final calculated time frame to reach the future value?

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