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In Depth Information
Using PDURATION to Calculate How Long It Will Take Before You Are a Millionaire
Figure 13.1.
Figure 13.1. RRI calculates an equivalent return of an investment.
RRI calculates an equivalent return of an investment.
Using
Using PDURATION
PDURATION tto Calculate
Calculate How
How Long
Long IIt Will
Will Take
Take Before
Before You
You Are
Are a
Millionaire
Millionaire
You have some money in a rollover IRA. How long will it take before that IRA
grows to a million dollars? The new PDURATION function calculates how
many years it will take. You have to specify the current value, the goal
value, and the assumed annual interest rate.
Caution
PDURATION is new in Excel 2013. This function returns a #NAME? er-
ror if you open the workbook in Excel 2010 or earlier.
Syntax
PDURATION(rate,pv,fv)
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