Saul Goodman tells you that you inherited $250,000 from your Great Aunt Birgit. Under Saul's advice, you invest your inheritance into an ordinary annuity that pays out $5,000, monthly, et 4compounded monthly.How many vears will it take for the inheritance to be depleted? Round vour answer to 2 decimal olaces.

An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…

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How many years will it take for the inheritance to be depleted?

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 14MCQ

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Saul Goodman tells you that you inherited $250,000 from your Great Aunt Birgit. Under Saul's advice, you invest your inheritance into an ordinary annuity that pays out $5,000, monthly, et 4
compounded monthly.
How many vears will it take for the inheritance to be depleted? Round vour answer to 2 decimal olaces.

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