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Author Question: Li buys a $100 000 life insurance policy, which requires an annual premium of $420 or a monthly ... (Read 120 times)

imanialler

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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
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Marked as best answer by imanialler on Jun 6, 2019

ngr69

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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.
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imanialler

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Reply #2 on: Jun 6, 2019
Thanks


ngr69

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Reply #3 on: Jun 6, 2019
Welcome :)


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