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Today is your 21st birthday and your parents gave you a gift of $2,000. You...

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Finance

Today is your 21st birthday and your parents gave you a gift of $2,000. You just put this money in a brokerage account, and your plan is to add $1,000 to the account each year on your birthday, starting on your 22nd birthday. If you earn 10 percent a year in the brokerage account, what is the minimum number of whole years it will take for you to have at least $1,000,000 in the account? a. 41 b. 43 c. 45 d. 47 e. 48

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