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Unformatted text preview: (c) An insurance company buys a $10 million 41-day T-bill. How much interest will the insurance company earn on this investment? What nominal rate of interest compounded every 41 days did the insurance company earn? 2. A loan of $600 is to be repaid by payments of X at the end of each year for 4 years. Find X if & t = : 06 1 & : 02 t ; & t & 4 . 1...
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- Spring '09