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Your gym is advertising that you can purchase next year's membership fee today for $1,340. If you decide to wait 11 months you will have

Your gym is advertising that you can purchase next year's membership fee today for $1,340. If you decide to wait 11 months you will have to pay the full membership fee of $1,400. If you can invest your money at 4.25%, which option should you choose? At what discount rate would the alternatives be equivalent

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