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Home Q & A Board Science-Related Homework Help Mathematics
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hussainizzle hussainizzle
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A year ago
An insurance company considers the present value of a 10-year term life insurance policy to be $3,738. The premiums that the company collects are $55 at the beginning of every month for the 10 years. What monthly compounded nominal rate is implied in the calculation of the policy's value?

▸ 12.900%

▸ 10.750%

▸ 13.690%

▸ 8.473%

▸ 14.298%
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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crusherpsgcrusherpsg
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A year ago
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hussainizzle Author
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A year ago
This site is awesome
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Thanks for your help!!
paulinaibarra98
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Correct Slight Smile TY
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