Recent Posts • Latest Topics • Unanswered Questions

A 15-year term life insurance policy requires premiums of $45 per month. The first payment is made ...

Tonyt

wrote...

Go to Answer

Posts: 121

Rep:

A year ago

A 15-year term life insurance policy requires premiums of $45 per month. The first payment is made ...

A 15-year term life insurance policy requires premiums of $45 per month. The first payment is made on the day that the policy is written. The insurance company immediately pays $4,000 into a fund to cover potential claims and this money cannot be recovered by the company. Using an interest rate of 6.6% compounded monthly, what is the present value of the policy to the insurance company?

▸ $9,162.26

▸ $5,133.39

▸ $1,836.21

▸ $1,161.62

▸ $844.60

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

Read 77 times

1 Reply

Report

Replies

Answer verified by a subject expert

tranle311

wrote...

Posts: 149

Rep:

A year ago

More solutions for this book are available here

Report

Related Topics

Tonyt Author

wrote...

A year ago

Correct

julymontalvo

wrote...

Yesterday

This calls for a celebration Person Raising Both Hands in Celebration

Gorgio_De

wrote...

2 hours ago

Just got PERFECT on my quiz

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1798 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

1112

1150

6265

Your Opinion

Previous poll results: What's your favorite funny biology word?

Bonobos, Chimpanzees, and the 98% DNA Link

Strange Ingredients Lurking in Doritos Chips

Courses by Biology Forums

It's sore throat season, why does my mucus have red spots?

The Toxic Skin and Fungi Defense

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat 1	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.