You have $78,653.11 in a brokerage account, and you plan to deposit an additional $3,000 at...

You have $78,653.11 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $280,000. You expect to earn 10% 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.

Expert Solution

Calculations-

Where,

Rate = Periodic Interest rate

Nper = No. of periods

pmt = periodic payments

PV= Amount Invested

FV = Future value of amount invested

Type= 0 if the amount paid at the end of period,1 if paid at the beginning.

As no method was mentioned I have solved the problem using excel function

.Please upvote if the answer is helpful.In case of doubt,do comment.Thanks.

jeff jeffy answered 2 years ago

You have $51,106.03 in a brokerage account, and you plan to deposit an additional $3,000 at...

You have $51,106.03 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $250,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal?

You have $75,148.17 in a brokerage account, and you plan todeposit an additional $3,000 at...

You have $75,148.17 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $270,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

You have $7,933.71 in a brokerage account, and you plan to deposit an additional $4,000 at...

You have $7,933.71 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $200,000. 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.

You have $30,637.17 in a brokerage account, and you plan to deposit an additional $4,000 at...

You have $30,637.17 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $270,000. You expect to earn 13% 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. ____ years

You have $7,115.21 in a brokerage account, and you plan to deposit an additional $5,000 at...

You have $7,115.21 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $270,000. You expect to earn 14% 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.

You have $32,827.07 in a brokerage account, and you plan to deposit an additional $4,000 at...

You have $32,827.07 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $290,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

You have 42,180.53 in a brokerage account, and you plan to deposit and additional 5,000 at...

You have 42,180.53 in a brokerage account, and you plan to deposit and additional 5,000 at the end of every future year until your account total 250,000. you expect to earn 12% annually on the account. How many years will it take to reach your goal?

You have $4,311.89 in a brokerage account, and you plan to deposit an additional $5,000 at...

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?

1. You have $10,026.61 in a brokerage account, and you plan to deposit an additional $5,000...

1. You have $10,026.61 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 expect to earn 11% 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. ____ years 2. An investment will pay $150 at the end of each of the next 3 years, $250 at...

You have $45,589.25 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 have $45,589.25 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 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

Question