Syntax: @CTERM(R, FV, PV)
R = interest rate
FV = future value of the investment
PV = present value of the investment
@CTERM calculates the number of compounding periods required for an investment of PV to reach a value of FV at the given interest rate R. The formula is given by:
Examples:
@CTERM(0.085, 1500, 1000) = 4.97 (years, if the annual interest rate is 8.5%)
@CTERM(B5, D5, C5) = 11, where B5 = 10.5%, D5 = $300,000, and C5 = $100,000
@CTERM(.09, 1900, 1100) = 6.3