Posted by tippy on .
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 the account, how many years
will it take for John to reach his goal?
You can use this site to figure this problem.
It would take 4.73 years more than 4 1/2 years to accumulate $250,000