Question

Question #d2b8e

Answer 1

Use the Future Value formula: `FV = P(1+r)^n`
where P = principal: i = 20%; r = i/4 = 5%
So the multiplier you are after is: `(1+5%)^color(red)29 = 4.12`
It will take about 29 Quarters or 7 year and a quarter...