You have $35,000 in a brokerage account and you plan to deposit $3,250 at the end of

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You have $35,000 in a brokerage account and you plan to deposit $3,250 at the end of every future year until your account reaches $250,000. How many years will it take reach your goal if you expect to earn 7% on your investment?

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Fundamentals of Financial Management

ISBN: 978-1305635937

Concise 9th Edition

Authors: Eugene F. Brigham

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Posted Date: Mar 10, 2024 03:54 AM

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You have $35,000 in a brokerage account and you plan to deposit $3,250 at the end of

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To solve this problem we can use the future value formula for an ordinary annuity FV Pm... View the full answer

Fundamentals of Financial Management

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