CTERM

Returns the number of compounding periods (usually years) required for an investment at a present value to reach a future value earning a fixed interest rate.

Syntax:

CTERM(interest:number, fv:number, pv:number)

interestis the interest rate per period, expressed as a decimal fraction,
fvis the desired future value of the investment,
pvis the present value of the investment.

The formula underlying CTERM is:

periods = ln(fv ÷ pv) ÷ ln(1 + interest)

Example:

CTERM(0.10, 2000, 1000)

returns the number 7.27 (years), the time taken for £1000 to grow into £2000 at an interest rate of 10% per annum.