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Home Q & A Board Science-Related Homework Help Mathematics
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thedrunkmind thedrunkmind
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A year ago
Sovereign Life Insurance Company of Canada offers $250,000 of term life insurance to a 45-year-old male for an annual premium of $716 (in advance) or for monthly premium payments (in advance) of $62.50 by preauthorized cheques. What effective rate of interest is charged to those who pay monthly? Round to the nearest 0.01%
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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KimbletonKimbleton
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A year ago
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