math problem?

Question

Ac ompany establishes a sinking fund for upgrading office equipment with quarterly payments of $7500 into an account paying 6.8% compounded quarterly. How long will it be before the account has $150,000? (Round up to the next-higher quarter if not exact.)

Answer 1

For the theory of compound interest, look at:
http://en.wikipedia.org/wiki/Compound_interest

For a calculator that does what you want, try:
http://deposits.interest.com/content/calculators/savingscalc.asp