Answer:
The second club will take approximately 15 months
Solution:
Given that the initiation fees for the first club is $125.
Monthly fees for the first club = $17.50 per month.
Annual fees for the first club = [tex]($17.50 \times 12)[/tex]
= $210
Total fees for the first club = $210+$125
= $335
Now, For the second club there is no initiation fees.
Monthly fees for the second club = $ 23
Annual fees for the second club = [tex]($23 \times 12)[/tex]
= $276
The difference between the annual fees of the first and the second club is ($335 - $276) = $59
So to cover $59 , the second club will take
[tex]\frac{59}{23}=2 \frac{1}{23}[/tex]
Thus the second club will take [tex]12 + 2 \frac{1}{23} = 14.566 = 15[/tex] months to cost more than the first.
