Question
Asked Oct 31, 2019
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13) Under certain conditions, Swiss banks pay negative interest: they charge you. Suppose a bank "pays" -2.3%
interest compounded annually. Find the compound amount for a deposit of $110,000 after 2 years.
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13) Under certain conditions, Swiss banks pay negative interest: they charge you. Suppose a bank "pays" -2.3% interest compounded annually. Find the compound amount for a deposit of $110,000 after 2 years.

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Expert Answer

Step 1

Formula for compound...

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nt -D Р А — P| 1+ п

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