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Category > Accounting Posted 01 May 2017 My Price 5.00

John Roberts has $42,180.53 in a brokerage account

John Roberts has $42,180.53 in a brokerage account, and he plans to contribute an additional $5,000 to the account at the end of every year. The brokerage account has an expected annual return of 12 percent. If John's goal is to accumulate $250,000 in teh account, how many years will it take for John to reach his goal?

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Alpha Geek
(8)
Status NEW Posted 01 May 2017 04:05 PM My Price 5.00

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file 1493654947-answer1.docx preview (104 words )
J-----------ohn----------- Ro-----------ber-----------ts -----------has----------- $4-----------2,1-----------80.-----------53 -----------in -----------a b-----------rok-----------era-----------ge -----------acc-----------oun-----------t, -----------and----------- he----------- pl-----------ans----------- to----------- co-----------ntr-----------ibu-----------te -----------an -----------add-----------iti-----------ona-----------l $-----------5,0-----------00 -----------to -----------the----------- ac-----------cou-----------nt -----------at -----------the----------- en-----------d o-----------f e-----------ver-----------y y-----------ear-----------. T-----------he -----------bro-----------ker-----------age----------- ac-----------cou-----------nt -----------has----------- an----------- ex-----------pec-----------ted----------- an-----------nua-----------l r-----------etu-----------rn -----------of -----------12 -----------per-----------cen-----------t. -----------If -----------Joh-----------n's----------- go-----------al -----------is -----------to -----------acc-----------umu-----------lat-----------e $-----------250-----------,00-----------0 i-----------n t-----------eh -----------acc-----------oun-----------t, -----------how----------- ma-----------ny -----------yea-----------rs -----------wil-----------l i-----------t t-----------ake----------- fo-----------r J-----------ohn----------- to----------- re-----------ach----------- hi-----------s g-----------oal-----------? -----------Ans-----------wer----------- T-----------han-----------k y-----------ou -----------for----------- yo-----------ur -----------int-----------ere-----------st -----------and----------- bu-----------yin-----------g m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- ch-----------at -----------as -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox
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