I know the Final Value (100) and the Starting Value (1), and I know the Compound Annual Growth Rate (100%). But how do I calculate the time ("N" in the equation below) needed to achieve this?
I guess another way I might be able to simplify this example is: 1*2^6.644 = ~100. But how do I solve for the "6.644" here?
I've been looking around on Google for variations of the CAGR formula, but I can't seem to find this one.
I'm guessing this may involve logarithms, but it's only a guess. In case that's true, do you know how to write it in an Excel formula (which is ultimately what I'll use it for).
Thanks for your help!
I guess another way I might be able to simplify this example is: 1*2^6.644 = ~100. But how do I solve for the "6.644" here?
I've been looking around on Google for variations of the CAGR formula, but I can't seem to find this one.
I'm guessing this may involve logarithms, but it's only a guess. In case that's true, do you know how to write it in an Excel formula (which is ultimately what I'll use it for).
Thanks for your help!