The formula given for using Table 19 - 1 is Annual premium = face value/ $1,000 (
Question:
Annual premium = face value/ $1,000 ( rate.
Is the formula
Annual premium = face value ( rate/$1,000
Equivalent? Way or way not?
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Step by Step Answer:
Yes Both formulas involve one multiplication and one division by 100...View the full answer
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Related Book For 
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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