Miles bridges makes $160,000 as his annual salary. He currently has a starting balance in a normal brokerage investment account of $25,000, and wants to contribute 6% of his salary to this same account each year. If Miles anticipates earning 12% annual return, and incurs an average annual tax expense of 25%, how much will he have in the brokerage account after 20 years of investing?

Answer rating: 100% (QA)

To calculate the amount Miles will have in the brokerage account after 20 years of investing we need to consider his annual contributions the annual r... View the full answer