Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have $12,457.52 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account
You have $12,457.52 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $280,000. You expect to earn 13% 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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started