John Roberts has $42,180.53 in a brokerage account, and he plans to contribute an additional $5,000 to
Question:
John Roberts has $42,180.53 in a brokerage account, and he plans to contribute an additional $5,000 to the account at the end of every year. The brokerage account has an expected annual return of 12 percent. If John's goal is to accumulate $250,000 in the account, how many years will it take for John to reach his goal?
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If you assume he begins at t0 with 4218053 and that the 5000 is added at the e...View the full answer
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Related Book For 
Fundamentals of Financial Management
ISBN: 978-0324272055
10th edition
Authors: Eugene F. Brigham, Joel F. Houston
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