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You have $32,051.03 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $280,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

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samchezo

Answer:8 years

Explanation:12% of $32051.03=$3846.12+32051.03=38897.15

D4 to get the number of years will be $280,000÷38897.15 = approximately 8 years

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