You have $4,311.89 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $210,000. 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.

What is the present value of a security that will pay $50,000 in 20 years if securities of equal risk pay 12% annually? Round your answer to the nearest cent.

Your parents will retire in 16 years. They currently have $380,000, and they think they will need $1,550,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.