00:01
You buy $10 ,000 in stocks, and you want to hope your investment will grow to be $100 ,000.
00:07
If you make on average an 11 .3 % annually, how long will it take you to reach your goal? well, we're going to use the formula that a equals p 1 plus r to the t.
00:19
And this is because it's annual.
00:21
We want this to end up being $100 ,000.
00:23
So that's what we're going to put for our accumulated amount.
00:27
In our principal, this is what you invest, is going to be that $10 ,000.
00:32
So we're going to have one plus.
00:34
Now, my interest rate is 11 .3%.
00:37
Let me change that to 0 .113.
00:41
And then we're going to have our variable t...