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Your membership in Planet Fitness is about to expire. You may renew it for $250 a year or, instead, you may get a lifetime membership
Your membership in Planet Fitness is about to expire. You may renew it for $250 a year or, instead, you may get a lifetime membership for a onetime payment of $4,000 today. Payments for the regular subscription are made at the beginning of each year. Using a discount rate of 5%, how many years does it take to make the lifetime membership the better deal? Round to nearest year,
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