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Home Q & A Board Science-Related Homework Help Mathematics
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gewusel gewusel
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6 years ago
Li buys a $100 000 life insurance policy, which requires an annual premium of $420 or a monthly premium of $37. In either case, the premium is payable at the beginning of the period of coverage. What is the effective rate of interest Li pays, if he chooses monthly payment plan?
A) 10.89%
B) 13.04%
C) 10.39%
D) 1.09%
E) 5.7%
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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SupremeSupreme
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6 years ago
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wrote...
#2
3 years ago
thank you
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#3
2 years ago
thank you
Anonymous
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#4
6 months ago
Help! The answer is missing an explanation...
Anonymous
wrote...
#5
6 months ago
I think it goes something like this:



Source  https://biology-forums.com/index.php?action=downloads;sa=view;down=15986
Anonymous
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#6
6 months ago
Help! The answer is missing an explanation...
Anonymous
wrote...
#7
6 months ago
Quote from: Anonymous (6 months ago)
Help! The answer is missing an explanation...

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