What is the effective annual rate being paid on the loan

Reference no: EM132162730

Question: Power Designs' professional liability insurance can be paid annually or semiannually. If paid annually, it costs $12,000. If paid semiannually, $750 is added to each payment. If the installment plan is chosen, what is the effective annual rate being paid on the "loan"? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132162730

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