Microsoft Office Tutorials and References

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)