Multiplying this result by 12 gives 59.2 months if the annualized rate
is used.
If on the other hand 6% per annum is converted to 0.5% per month the
formulas is:

=LOG(1000/750)/LOG(1.005)

which gives 57.7 months.

Lori wrote:

The amount after a given number of years is given by

=750*1.06^(years)

With some high school algebra you can find when this reaches $1000:

=LOG(1000/750)/LOG(1.06)



Jaycee wrote:

I'm trying to figure out the compound interest formula to tell me how long
it will take for investment to reach a certain amount.

E.g.
I have $750 that I can invest at 6%. How long will it take, compounded
monthly, to reach $1000.

Thanks.