Savings Account

With $3,000 in a savings account and 3.75% interest, how many months does it take to reach $4,000?

Variable	Enter
Clear
Pmt Timing	End
Present Val	-3,000
Future Val	4,000
Payment	0
Intrst/Yr%	3.75
Periods/Yr	12
Cmpnds/Yr	12

Compute Periods by scrolling to its variable and choosing Calculate from the menu.

To reach $4,000, it will take 92.20 periods (or 92.20 ÷ 12 = 7.68 years).