Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you have $38,989.20 in a brokerage account, and yo

You have $38,989.20 in a brokerage account, and you plan to deposit an additional $5,000...

80.2K

Verified Solution

Question

Finance

image

You have $38,989.20 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 14% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number. years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

Justify your answer for question 3a If the ratio of the area is a 6...

Accounting
1.2K views

THIS IS A VERY IMPORTANT QUESTION. PLEASE MAKE SURE YOU DO ITCOMPLETELY AND UNDERSTAND...

Accounting
1.2K views

For each of the following items, tell me where they would go on a balance sheet...

Biology
1.2K views

The surface mining method that removes tops of mountains and allows the debris to fall...

Physics
1.2K views

Please provide Handwritten answer Consider the situation shown in the figure The three point charges...

Calculus
1.2K views

You have 790 ft of fencing to make a pen for hogs You have a...

Accounting
1.2K views

Required information PAD-2 (Static) Comparing the Fair Value and Equity Methods [The following information applies...

Accounting
1.2K views

Maine Pine Corp. has Net Income of $20,000, Sales of $230,000, Taxes of $10,000, Assets...

Accounting
1.2K views

Guardian Security Services was established on January 15 to provide security services. The services provided...

Accounting
1.2K views

A transfer tax advantage achieved by setting up an irrevocable trust and reserving an income...

Accounting
1.2K views

Question 2 View Policies Current Attempt in Progress Hugh Curtin borrowed $32,400 on July 1,...

Accounting
1.2K views

Required: Prepare a classified balance sheet at December 31,2024, by updating ending balances from...