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A Bank offers clients an annual rate of return of 10% with continuous compounding on an investment of $1,000,000. The investment of $1,000,000 is deposited

A Bank offers clients an annual rate of return of 10% with continuous compounding on an investment of $1,000,000. The investment of $1,000,000 is deposited in an account that is closed for a ten years. The interest on the $1,000,000 will, however, be paid by the bank directly to client every three (3) months. (this way the investors will not have to wait for 10 years to receive the interest).

Calculate the fixed $ amount of interest that will be paid to the account holder very three month.

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