You will invest $50,000 in a brokerage account today, and you plan to deposit an additional $10,000 at
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Get it written →- You will invest $50,000 in a brokerage account today, and you plan to deposit an additional $10,000 at the end of every future year until your account totals $1,000,000. You expect to earn 7% annually on the account. How many years will it take to reach your goal?
Cut and paste the question, before solving. Clearly show all work in order to get credit.
Note:
1. Put a question mark on what you are solving.
2. Show if the entry is a positive or negative number (i.e. put a negative sign in front of negative numbers
- N =
- I =
- PV =
- PMT =
- FV =
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