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Mike has $42,500 in a brokerage account, and he plans to contribute an additional $5,000 to the account at the end of every future year.
Mike has $42,500 in a brokerage account, and he plans to contribute an additional $5,000 to the account at the end of every future year. The brokerage account has an expected annual return of 11%. If Mike's goal is to accumulate $262,250 in the account, how many years will it take for Mike to reach his goal? O 9 years O 8 years O 11 years 10 years O 12 years
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