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Home Q & A Board Science-Related Homework Help Mathematics
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usha usha
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A year ago
The monthly premium on a five-year insurance policy is $25 payable in advance. What is the economic value today of the premium payments if money is worth 14% compounded monthly?

▸ $1074.43

▸ $2180.02

▸ $1086.96

▸ $2154.88

▸ $1157.75
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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ochie92ochie92
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A year ago
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Anonymous
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#2
10 months ago
Help! The answer is missing an explanation...
Anonymous
wrote...
#3
5 months ago
Help! The answer is missing an explanation...
wrote...
#4
Educator
5 months ago
Hello, I added the solution, it's based on the idea of present value of annuity due, taught below
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