Check My Work

Check My Work

Your subscription to Making Money Monthly is about to run out. You plan to take the magazine for the rest of your life, and you can renew it by paying $90 per year, beginning immediately, or you can get a lifetime subscription for $900, also payable immediately. Assuming you can earn 8% on your capital and the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy? Round up if necessary to obtain a whole number of years

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