Question
A 3-year term insurance policy has an annual premium of $400, and at the end of 3 years, all payments and interest are refunded. What
A 3-year term insurance policy has an annual premium of $400, and at the end of 3 years, all payments and interest are refunded. What lump-sum deposit is necessary to equal this amount if you assume an interest rate of 2.5% compounded annually?
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Food And Beverage Cost Control
Authors: Lea R. Dopson, David K. Hayes
5th Edition
0470251395, 978-0470251393
