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probability A. Under certain conditions, Swiss banks pay negative interestthey charge you. (You didn't think all that secrecy was free?) Suppose a bank pays-4.7% interest

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probability

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A. Under certain conditions, Swiss banks pay negative interestthey charge you. (You didn't think all that secrecy was free?) Suppose a bank "pays"-4.7% interest compounded annually. Find the compound amount for a deposit of $120,000 after 9 Years. B. Suppose $12,000 is invested at an annual rate of 2% for 18 years. Find the future value if interest is compounded as follows. a. Annually b. Quarterly c. Monthly d. Daily (365 days) e. Continuously C. In 2006, a man mailed a $100 check to another man to repay a $100 debt of his great-greatgrandfather, who died in 1837. A bank estimated the interest on the loan to be $362 million for the 169 years it was due. Find the interest rate the bank was using, assuming interest is compounded annually. 45

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