Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. an insurance broker calls you and despite your fin

An insurance broker calls you and despite your finance professor's warnings, you listen to their...

50.1K

Verified Solution

Question

Finance

image
An insurance broker calls you and despite your finance professor's warnings, you listen to their offer. The offered insurance product requires you to make payments every four month of $141 and do so for the next 25 years (1st payment is 4 months from today). The insurance product offers to meet your required return of 7 % per year (i.e. effective), and pay interest every four month. What amount of money should the insurance product promise you at the end of 25 years? (Please make sure to use at least up to 6 decimal points for the I/Y input)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Price Coupon YTM Time to maturity ? 0 2% 1 year 890 5% ? 2 years 945 ? 5% 3 years Assume semi-annualcoupon payments. Find missing values in the table above. Please show...

Biology
1.2K views

Diffrent groups of organisms had to overcome as they evolved to live in terrestrial environments. What...

Biology
1.2K views

How is an intron spliced out of a pre mRNA transcript to give rise to a...

Physics
1.2K views

Use well labeled diagrams to explain the following two phenomena: the first is that at sunset...

Mechanical Engineering
1.2K views

Describe Hydraulic steering gear system and power fault operation

General Management
1.2K views

What are some of the actions that may be taken by the FTC against deceptive advertising...

Biology
1.2K views

21 Listen The calcium ions released into the cytosol during excitation of skeletal to Otropomyosin...

Algebra
1.2K views

34 Given the formula A find the area A of a circle whose radius is...

Accounting
1.2K views

2 Problem 12-25...

Accounting
1.2K views

Selena Company has two products: A and B. The company uses activity-based costing. The estimated...

Accounting
1.2K views

According to the matching principle, expenses should be recorded: A) When cash is...

Accounting
1.2K views

Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts....