you deposit $10,000 into a bank account at 2% annual interest. how long will it take for the $10,000 to compound to $30,000?
n= i/y= pv= pmt= fv= p/y=

time = 55.48 years

Explanation:

Given:

Principal amount = $10000

Interest rate = 2% p.a

Amount = $30000

We can evaluate the time taken using the following formula:

Solving the above equation, we get

Now taking log on both sides, we get;

time = 55.48 years

answer: do you still need this?