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An insurance company wishes to offer customers a monthly installment alternative to the annual premium plan. All premiums are payable at the beginning of the
An insurance company wishes to offer customers a monthly installment alternative to the annual premium plan. All premiums are payable at the beginning of the period of coverage. The monthly payment plan is to include an interest charge of compounded monthly on the unpaid balance of the annual premium.What will be the monthly premium per $ of annual premium?
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Personal Finance An Integrated Planning Approach
Authors: Ralph R Frasca
8th edition
136063039, 978-0136063032
