Problem 5-5 Time to reach a financial goal You have $44,524.78 in a brokerage account, and you plan to deposit an additional $4,000 at the
Problem 5-5 Time to reach a financial goal
You have $44,524.78 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $270,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.
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Authors: Gabriel Hawawini, Claude Viallet
7th Edition
1473778913, 978-1473778917
