Reaching a financial goal

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» Reaching a financial goal

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Oct 31, 2007, 03:43 PM

NBishop

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Join Date: Oct 2007

Posts: 4

Reaching a financial goal

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?

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