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

Question

1 Approved Answer

You have $35, 697.62 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your

image text in transcribed
You have $35, 697.62 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $220,000. You expect to earn 14% annually on the account. How many years will intake to reach your goal? at the end of the calculation

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

Step: 3

blur-text-image

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 Budget Building Book For Nonprofits

The Budget Building Book For Nonprofits

Authors: Murray Dropkin, Jim Halpin, Bill La Touche

2nd Edition

0787996033, 978-0787996031

More Books

Students also viewed these Finance questions

Question

★★★★★
A circle of radius 8m has its center on the y axis at y = 8 m. You start at the origin and walk along the circle at a steady speed, returning to the origin exactly 1 min after you started. (a) Find...

Answered: 1 week ago

Question

★★★★★
In 2014, Diane Straka formed an accounting corporation with three male colleagues. Straka and her partners each held a 25 percent share of the firm and served as the directors and officers. One of...

Answered: 1 week ago

Question

★★★★★
Telephone survey, two or fewer. In the telephone survey technique introduced in Exercise 6.5, what is the probability of two or fewer successful calls in eight attempts?

Answered: 1 week ago

Question

★★★★★
The U.S. Navy requires that fighter pilots have heights between 62 in. and 78 in. a. Find the percentage of women meeting the height requirement. Are many women not qualified because they are too...

Answered: 1 week ago

Question

★★★★★
Consider a 30 -year, $115,000 fixed-rate mortgage with a nominal annual rate of 5.05 percent. All payments are made at the end of each month. What is the remaining balance on the mortgage after 5...

Answered: 1 week ago

Question

★★★★★
A set of logical and mathematical operations performed in a specific sequence is called a ( n ) complete enumeration. diagnostic analysis. algorithm. objective.

Answered: 1 week ago

Question

★★★★★
Question: In Java, what is the result of attempting to access an instance variable of a superclass from a subclass if that variable is marked as protected? A) The instance variable is not accessible...

Answered: 1 week ago

Question

★★★★★
What is sociology and its nature ?

Answered: 1 week ago

Question

★★★★★
What is liquidation ?

Answered: 1 week ago

Question

★★★★★
Explain the different types of Mergers.

Answered: 1 week ago

Question

★★★★★
What is dividend payout ratio ?

Answered: 1 week ago

Question

★★★★★
Carefully consider the appropriate measurement methods in given situations and be conscious of their shortcomings.

Answered: 1 week ago

Question

★★★★★
Carry out an interview and review its success.

Answered: 1 week ago

Question

★★★★★
Identify the issues involved in the choices that organisations make in their relationships with their employees.

Answered: 1 week ago

Previous Question Next Question