In the 1980s a northeastern bank experienced an unusual
Chapter , Problem 4.5.50(choose chapter or problem)
In the 1980s a northeastern bank experienced an unusual robbery. Each month an armored car delivered cash deposits from local branches to the main office, a trip requiring only one hour. One day, however, the delivery was six hours late. This delay turned out to be a scheme devised by an employee to defraud the bank. The armored car drivers had lent the money, a total of approximately $200,000,000, to arms merchants, who then used it as collateral against the purchase of illegal weapons. The interest charged for this loan was 20% per year compounded continuously. How much was the fee for the six-hour period?
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