A local bank advertises the following deal: Pay us $100 at the end of each year for 10 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever. a. Calculate the present value of your payments to the bank if the interest rate is 4.50%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b. What is the present value of a $100 perpetuity deferred for 10 years if the interest rate is 4.50%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value c. Is this a good deal? Yes No a. If the interest rate is 6.8% per year, approximately how long will it take for your money to quadruple in value? (Use the Rule of 72.) Number of years b. If the inflation rate is 4.4% per year, what will be the change in the purchasing power of your money over this period? (Use the Rule of 72 to compute the number of years. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Purchasing power by %