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 148 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?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Basic overview of energy and human life. Basic overview of energy and human life.
Ernst Haeckel's Tree of Life (1879) Ernst Haeckel's Tree of Life (1879)
Dimensions of quality of life affected by cancer Dimensions of quality of life affected by cancer
(a) The relative age ranges of different dating techniques depend upon the half-life of the system u (a) The relative age ranges of different dating techniques depend upon the half-life of the system u
Life cycle of Entamoeba histolytica. Life cycle of Entamoeba histolytica.
A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ... A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ...
Video: Buffers definition and the role of buffer in the body

For a complete list of videos, visit our video library