Question
A life insurance company offers loans to its policyholders against the cash value of their policies at a (nominal) annual interest rate of 8 percent,
A life insurance company offers loans to its policyholders against the cash value of their policies at a (nominal) annual interest rate of 8 percent, compounded semiannually. Determine the effective annual percentage interest rate on these loans. Round your answer to two decimal places.
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Securitisation Derivatives A Practioner's Handbook
Authors: Mark Aarons, Vlad Ender, Andrew Wilkinson
1st Edition
1119532272, 978-1119532279
