If paid quarterly 1000 is added to the three delayed, Business Economics

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If paid quarterly 1000 is added to the three delayed

Macro Structures' professional liability insurance can be paid in installments. If paid annually, it costs $20,000. If paid quarterly, $1000 is added to the three delayed payments. If the quarterly plan is chosen, what is the effective annual interest rate being paid on the "loan"?

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Business Economics: If paid quarterly 1000 is added to the three delayed

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