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TERM2

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(TERM2(pmt,int,fv))

 

Returns the number of compounding periods (the term) for a return of future value fv, based on the payment, pmt, and interest rate, int.

 

In the following example, TERM2 returns the number of years you must make payments if you want to accumulate $75,000 by making annual installments of $2,000 at 8% annual interest. The value of vterm2 (the term) is 18.

 

SET VAR vterm2 = (TERM2(2000,.08,75000))