Yes, that's what I got, and here's how:
1125(4*.262-1)=54
Shonetta Woods has a limited payment insurance policy with an annual premium of $1,125.00 until age 65. She pays the premium quarterly at an increased rate of 26.2 percent per quarter. How much money can Shonetta save in one year by paying the premium annually?
Is it $54.00?
1 answer
1 answer