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The annual membership fee at your health club is $700 per year and is expected to increase at 6% per year. A life membership is

The annual membership fee at your health club is $700 per year and is expected to increase at 6% per year. A life membership is $7,000 and the discount rate is 14%. In order to justify taking the life membership, what would your minimum life expectancy need to be? Show your work.

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