If you need an investment yield of about $5,000 how many years will it take what amount to yield this?

Question

Basically how would you go about figuring out something like this?

Answer 1

it's just a math problem...

N = No * e ^ kt

N is the amount afterwards

No is the amount you invest

e is a variable

k is your percent in decimal notation

t is your time in years

this formula is only for compounding continually

there's another formula for monthly/weekly/yearly etc..but i completely forgot.