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Brokerage Account: Present and Future Value

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You have $42,180.53 in a brokerage account and you plan to deposit an additional $5000 at the end of every future year until your account totals $250,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal?

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Solution Summary

The future value of a brokerage account with a 12% annual interest is calculated.

Solution Preview

Using TI BA II PLUS financial calculator, enter the following,

PV = ...

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