Bill switched life insurance companies and was able to obtain the same coverage for a savings of

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Bill switched life insurance companies and was able to obtain the same coverage for a savings of $100 per year on premiums. He then invested his savings at 5% per year. How much did he have after 7 years?

A. $814

B. $575

C. $1410

D. $410

E. $579

Related Book For answer-question

Foundations of Financial Management

ISBN: 978-1259024979

10th Canadian edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

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Posted Date: Feb 07, 2024 04:58 AM

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Bill switched life insurance companies and was able to obtain the same coverage for a savings of

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Foundations of Financial Management

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