FIN-650 Module 1 DQ 2 – Problem 4- 5 - You have $42,180.53 in a brokerage account,…..
FIN-650 Module 1 DQ 2 – Problem 4- 5
Managerial Finance – Overview of Financial Management and Time Value of Money
Grand Canyon University
This discussion thread will be used to discuss the practice problems completed in this module. After completing the problems, submit your answers to the instructor. Your instructor will specify which problems will be reviewed for discussion. Post your answers to the posted problem to this discussion thread and discuss any challenges you had with completing the problems, tips that helped you arrive at the correct answers, and/or questions you may still have.
Problem 4- 5
You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 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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