Currently, Fouad Al Marri has $42,180.53 in his brokerage account at Morgan Stanley. He plans to deposit additional $5,000 at the end of every future year until his account totals $250,000. Morgan Stanley will pay Fouad 12% annually on the account. Calculate the number of years it will take Fouad to reach his future goal.

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A: ANSWER GIVEN ON THE NEXT SHEET

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A:

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