an engineering student must decide whether to pay for auto insurance on a monthly or an annual basis. if paid annually, the upfront annual cost is $2750. if paid monthly, the cost is $250 at the start of each month. what is the rate of return for buying the insurance on an annual basis expressed as an annual effective rate?

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07-12-2022
Business

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an engineering student must decide whether to pay for auto insurance on a monthly or an annual basis. if paid annually, the upfront annual cost is $2750. if paid monthly, the cost is $250 at the start of each month. what is the rate of return for buying the insurance on an annual basis expressed as an annual effective rate?

Sagot :

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