How is health insurance different from auto insurance?
health insurance is required by the federal government; auto insurance is required by both the state and federal governments.
while both types of insurance are required, if you do not have health insurance, you will be required to pay a fee on your taxes.
while several companies sell both types of insurance, businesses only have to provide their employees with auto insurance.
people are required to have a minimum amount of auto insurance, which includes a deductible; people are required to have health insurance, but it does not include a deductible.

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan