Anonymous asked in Business & FinancePersonal Finance · 1 month ago


For life insurance policies, some of the premium pays for the cost of the insurance, and the remainder goes toward the cash value of the policy and earns interest like a savings account. Consider the following insurance company options. Company 1: pays 4.6% compounded monthly on the cash value of their policies Company 2: pays 4.63% compounded semiannually on the cash value of their policies What is the APY offered by each company? (Round your answers to the nearest hundredth.) Company 1: Company 2: Which company offers a higher yield?

There are no answers yet.
Be the first to answer this question.