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:

Oilskin Boots

Waterproof boots made from oil-treated leather or fabric, commonly used in wet or muddy conditions.

Arthur Conan Doyle

A British writer best known for creating the fictional detective Sherlock Holmes, a seminal figure in crime fiction.

Ship's Log Book

An official record book maintained on board ships, noting important events, navigational data, and management details of voyages.

Ship's Log Book

A record book used on ships to detail voyages, including locations visited, weather conditions, and daily occurrences.