Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have $38,769.75 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account

image text in transcribed
You have $38,769.75 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $220,000. You expec to earn 11% annually on the account. How many years will it take to reach your goal? Do not round intermediate caiculations. Round your answer to the nearest whole number. 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

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

Public Finance

Authors: Laurence S. Seidman

1st Edition

0073375748, 978-0073375748

More Books

Students also viewed these Finance questions