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

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

Assessment

Interactive Video

Mathematics, Business

11th Grade - University

Hard

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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.

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OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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