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Business, 26.06.2019 17:30 justin20080

An insurance company is offering a new policy to its customers. typically the policy is bought by a parent or grandparent for a child at the child’s birth. for this policy, the purchaser, say, the parent, makes the following six payments to the insurance company: first birthday $ 840 second birthday $ 840 third birthday $ 940 fourth birthday $ 850 fifth birthday $ 1,040 sixth birthday $ 950 after the child’s sixth birthday, no more payments are made. when the child reaches age 65, he or she receives $340,000. if the relevant interest rate is 10 percent for the first six years and 7 percent for all subsequent years, what would the value of the deposits be when the policy matures

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