FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TIME TO REACH A FINANCIAL GOAL You have $11,122.76 in a brokerage account, and you plan to deposit an additional $4,000 at the end of

image text in transcribed
TIME TO REACH A FINANCIAL GOAL You have $11,122.76 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $210,000. You expect to eam 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. years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Short Term Rental Success Guide From Host To Hospitality Expert

The Short Term Rental Success Guide From Host To Hospitality Expert

Authors: Alexandra Hartwell

1st Edition

979-8860876309

More Books

Students also viewed these Finance questions

Question

★★★★★
A plumber applies a 220-N force to the handle of a wrench as she removes a coupling from the end of a pipe. Knowing that the wrench and the force lie in a vertical plane parallel to the yz plane,...

Answered: 1 week ago

Question

★★★★★
Identify the common abbreviations that you will need to know when recording in medical records. TID_________

Answered: 1 week ago

Question

★★★★★
1.Why economists use indifference curves to illustrate a persons preferences

Answered: 1 week ago

Question

★★★★★
The Installment Jewelry Company has been in business for 5 years but has never had an audit made of its financial statements. Engaged to make an audit for 2007, you find that the company's balance...

Answered: 1 week ago

Question

★★★★★
TIME TO REACH A FINANCIAL GOAL You have $11,122.76 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $210,000. You expect...

Answered: 1 week ago

Question

★★★★★
Henkel Company is considering three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows. Project Kilo Project Lima...

Answered: 1 week ago

Question

★★★★★
Use the diagram for the following two questions: 4x-3 6. Find the measure the arc arc= degrees 7. Find the measure of the angle angle = degrees

Answered: 1 week ago

Question

★★★★★
This figure shows the nose cone of a rocket used for launching satellites. The nose cone houses the satellite until the satellite is placed in orbit... What is the volume of the nose cone? 6 feet OA....

Answered: 1 week ago

Question

★★★★★
A parallelogram is cut out of a 12-inch by 8-inch sheet of paper. There are four right triangle remnants. Two have the dimensions 2 inches by 9 inches, and the other two have the dimensions 3 inches...

Answered: 1 week ago

Question

★★★★★
Data on Scholastic Aptitude Test (SAT) scores are published by the College Entrance Examination Board in National College-Bound Senior. SAT scores for randomly selected students from each of four...

Answered: 1 week ago

Question

★★★★★
Create balance day adjustment entries as at 30/6/2022 entries for the following transactions. Folios are not required for these journals. Use account names as appropriate, and you must include...

Answered: 1 week ago

Previous Question Next Question