Gina deposits her inheritance into an account earning interest of 4% compounded annually. She will not withdraw the money until the balance has doubled. How long will Gina have to leave the money in the account?

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter3: Income Sources
Section: Chapter Questions
Problem 40P: Minnie owns a qualified annuity that cost 78,000. The annuity is to pay Minnie 650 per month for...
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Gina deposits her inheritance into an account earning interest of 4% compounded annually. She will not withdraw the money until the balance has doubled. How long will Gina have to leave the money in the account?

 

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