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How many years must you live to make lifetime subscription

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Reference no: EM132828387

Question - Your subscription to Financial Times is about to expire. You plan to subscribe to the newspaper for the rest of your life, and you can renew it by paying $60 annually, beginning immediately, or you can get a lifetime subscription for $700, also payable immediately. If you can earn 4.0% 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. 15.18

b. 12.00

c. 16.03

d. 21.35

e. 14.22

Reference no: EM132828387

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