Answer:
the time period is 168.07 months
Step-by-step explanation:
The computation of the time period is shown below:
Given that
RATE = 6% รท 12 = 0.5%
PMT = $670,000
FV = $175,860,000
PV = $0
The formula is shown below:
= NPER(RATE;PMT;-PV;FV;TYPE)
After applying the above formula, the time period is 168.07 months