Question 1011686
This is your formula:
Number of periods:
(log(FV/PV))/(log(1+r))
FV is the future value, 1240
PV is the present value, 620
r is the interest rate per period (4% compounded quarterly= 1% per quarter)
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(log(1240/620))/(log1+0.01)= number of periods. Use your calculator and remember to divide the number of periods by 4 to get the years.
J