A shady broker offers a dubious investment opportunity. In week0, he sells a $11,000 note promising to repay $11,500 in one week.In week 1, he sells two such notes and uses to proceeds to pay offthe week 0 investor. In week 2, he sells 4 notes and pays off weekone investors. Each week, he sells twice many notes as the weekbefore and uses the proceeds to pay off last week’s investors. Aninvestment scam of this sort is known as a Ponzi scheme. a) Howmany notes did the broker sell in week 10? b) What was the totalnumber of notes sold by week 10? c) How much money was collected byweek 10? d) How much money was paid out by week 10? e) In week 10,the broker took his profits and left the country. How much moneywas the loss of the investors? The table below will help you toorganize your work. Complete the table and write a paragraphdiscussing the situation.
