This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Li buys a $100 000 life insurance policy, which requires an annual premium of $420 or a monthly ... (Read 90 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
on: Jun 6, 2019

Question 1

Cameron is 35 years old and intends to retire at the age of 60. He is planning to contribute $3000 at the beginning of each six-month period to an RRSP. What semi-annually compounded rate of interest must his RRSP earn in order to reach $600 000 after 25 years?
◦ 4.86%
◦ 9.72%
◦ 9.52%
◦ 4.72%
◦ 9.43%

Question 2

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?
◦ 13.04%
◦ 1.09%
◦ 5.7%
◦ 10.89%
◦ 10.39%
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by imanialler on Jun 6, 2019

ngr69

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 44% of students answer this correctly


imanialler

  • Hero Member
  • *****
  • Posts: 539
Reply #2 on: Jun 6, 2019
Thanks


ngr69

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jun 6, 2019
Welcome :)


« previous next »
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Grace Ndiritu, Still Life: White Textiles. Grace Ndiritu, Still Life: White Textiles.
Cumulative change for six personality-trait domains across the life course show distinct patterns. Cumulative change for six personality-trait domains across the life course show distinct patterns.
Drug elimination: half-life to steady state. Drug elimination: half-life to steady state.
Life cycle of Entamoeba histolytica. Life cycle of Entamoeba histolytica.
A pump showing regular with a pump octane of 87, plus rated at 89, and premium rated at 93. These ... A pump showing regular with a pump octane of 87, plus rated at 89, and premium rated at 93. These ...
The permissible exposure limit (PEL) and immediately dangerous to life and health (IDLH) ... The permissible exposure limit (PEL) and immediately dangerous to life and health (IDLH) ...
Video: Flexor reflex & Crossed extensor reflex

For a complete list of videos, visit our video library