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Home Q & A Board Science-Related Homework Help Mathematics
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supersour supersour
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10 months ago
A Term Life Insurance policy requires premium payments of $63 at the beginning of every month. Using a rate of 15% compounded monthly, the present value of the stream of payments is $4,250. What is the term of the policy?

▸ 3 years

▸ 6 years

▸ 9 years

▸ 12 years

▸ 15 years
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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inhibitor128inhibitor128
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