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Time to Reach a Target
Calculates the term until a savings plan (or a lump-sum investment) reaches a target amount.
Type values, assign them with the value keys and press "Solve". It is the same financial calculator as under "Calculator" in the menu above.
Examples for this calculator
Each example is a story with explanation and a "what you learn" takeaway.
Formula
n = ln((FV + R/i)/(K0 + R/i)) / ln(1+i)
How the formula works
The unknown is the exponent n. Because n is in the power, you can only get at it via the logarithm: n = ln(ratio)/ln(1+i). The logarithm is the inverse of raising to a power and answers the question "how often must I multiply by q until the target is reached".
Solving the final-value formula for the number of periods.
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