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Home Q & A Board Science-Related Homework Help Mathematics
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cng cng
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10 months ago
A $500,000 life insurance policy for a 26-year-old offers four alternative premium payment plan: an annual premium of $470.00, semiannual premiums of $241.50, quarterly premiums of $123.37, and monthly premiums of $42.30. In every case, the premiums are payable in advance. What effective rate of interest, to the nearest 0.01%, is the insurance company charging clients who pay their premiums:


a) Semiannually?
b) Quarterly?
c) Monthly?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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jmoline2jmoline2
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10 months ago
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This site is awesome
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Thanks for your help!!
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