How many years will it take to reach your goal if you deposit $42,180.53 in a brokerage account and you plan to add $5,000 at the end of every year until your account reaches
$250,000. You expect to earn 12% annually?

Between 16 and 17 years.

You reach your goal at the end of the 11th year.

SEE SCHEDULE:-

YEAR
1 42,180.53 47,242.19
2 52,242.19 58,511.25
3 63,511.25 71,132.60
4 76,132.60 85,268.51
5 90,268.51 101,100.73
6 106,100.73 118,832.82
7 123,832.82 138,692.76
8 143,692.76 160,935.89
9 165,935.89 185,848.20
10 190,848.20 213,749.98
11 218,749.98 244,999.98
12 249,999.98