Bob bought some land costing $15,390. Today, that same land is valued at $44,817. How long has Bob owned this land if the price of land has been increasing at 5 percent per year? Multiple Choice: 13.87 years 14.56 years 24.09 years 22.94 years 21.91 years

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A: Please find the answer to the above question below:

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Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.