Your Subscription to Investing Wisely Weekly Is About to Expire

question 60

Multiple Choice

Your subscription to Investing Wisely Weekly is about to expire.You plan to subscribe to the magazine for the rest of your life,and you can renew it by paying $85 annually,beginning immediately,or you can get a lifetime subscription for $850,also payable immediately.Assuming that you can earn 6.0% on your funds and that the annual renewal rate will remain constant,how many years must you live to make the lifetime subscription the better buy?

• A)7.48
• B)8.80
• C)10.35
• D)12.18
• E)14.33

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Definitions:

K.Warner Schaie

A psychologist known for his work in the field of adult development and aging, particularly cognitive development over the lifespan.

Retesting

The process of taking a test or evaluation again, typically to verify the reliability of the results or to check for improvements after interventions.

Specialized Skills

Particular abilities or expertise developed to perform specific tasks or functions proficiently, often requiring focused training or experience.

Aspect

A particular part or feature of something, or a way in which something can be viewed or considered.