SOLUTION: Can someone please help. How log will it take you to save $100,000 if you start saving 1597 every 3 months starting today? Assume and interest rate of 6% compounded quarterly.

Question 952831: Can someone please help. How log will it take you to save $100,000 if you start saving 1597 every 3 months starting today? Assume and interest rate of 6% compounded quarterly.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
How log will it take you to save $100,000 if you start saving 1597 every 3 months starting today? Assume and interest rate of 6% compounded quarterly.
:
The formula for this is pretty complicated, but if you just want the answer; it will take about 11 years
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