Your Subscription to Investing Wisely Weekly Is About to Expire

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 $75 annually,beginning immediately,or you can get a lifetime subscription for $750,also payable immediately.Assuming you can earn 5.5% on your funds and the annual renewal rate will remain constant,how many years must you live to make the lifetime subscription the better buy? Round fractional years up.(Hint: Be sure to remember that you are solving for how many years you must live,not for how many payments must be made.)

A) 10
B) 11
C) 12
D) 13