This formula still applies if the annualized rate of 0.49% per month is
used (=(1.06)^(1/12)-1).

Niek Otten wrote:

This is not compounded monthly; look at Dana's formula, which is.

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"Niek Otten" wrote in message ...
| =NPER(6%,0,-750,1000)
|
| --
| Kind regards,
|
| Niek Otten
| Microsoft MVP - Excel
|
| "Jaycee" wrote in message ...
|| 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.
||
||
|
|