4) Use the NPER Excel function in Example 5.4 to determine how long it will take to triple your $500,000 investment if you earn 11.3% interest? Example 5.4 You want to reap $1,000,000 from an investment of $500,000. How many years will you have to wait if r=7.50%? Solve: Use the Excel spreadsheet function NPER(rate, puit, pv, fv, type). B $500,000 1. % 7.50% $1,000,000 N. years 9.58 per period 7.50% 500000 1, % 0.075 1000000 N. years =NPER(B13, ,-A13, D12, 1) per period =$B$13 Thus you need to wait just over 9 years to double your money