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you just opened a brokerage account, depositing $4,000. you expect the account to earn an interest rate of 10.2%. you also plan on depositing $1,500 at the end of years 5 through 10. what will be the value of the account at the end of 20 years, assuming you earn your expected rate of return? group of answer choices $62,319



Answer :

TOTAL: 27905.60 + 30723.44 = 58629

1) N = 20, PV = -4000, I = 10.2%, and FV = 27905.60

Briefing:-

1) N = 20, PV = -4000, I = 10.2%, and FV = 27905.60

2) Years: n = 15, I = 10.2%, PV = 1500 > FV = 6438.95; n = 14, I = 10.2%, PV = 1500 > FV = 5842.97; n = 13, I = 10.2%, PV = 1500 > FV = 5302.15; n = 12, I = 10.2%, PV = 1500 > FV = 4811.39; n = 11, I = 10.2%, PV = 1500 > FV = 4366.05; n = 10, I =

TOTAL: 27905.60 + 30723.44 = 58629

Is opening a brokerage account a wise move?

Brokerage accounts, often known as taxable investment accounts, may be able to enhance your nest egg more significantly than tax-advantaged retirement plans under the right conditions.  Because they provide tax advantages that you won't find elsewhere, we always advise investing first in your 401(k) and IRA.

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