Answer:
3.25 years
Step-by-step explanation:
The computation of the number of years is shown below:
Given that
PV = $225,000
RATE = 8%
PMT = $0
FV = $175,204.80
The formula is shown below:
= NPER(RATE;PMT;PV;FV;TYPE)
After applying the above formula, the number of years would be 3.25 years
The same would be considered
