egend nias it that Peter Ivinuit, a Dutch Official Working In the Colony Of New Netherland, will tretched along the Northeast US coastline from what is now Rhode Island down to what is nov New Jersey, purchased the island of Manhattan from a group of Native Americans 382 years ago, in 1626, for the equivalent of $24. Assuming that those $24 were invested at an interest ate of 7 percent per year, write down a formula that shows how much money the Native American sellers would have today, if they took advantage of compounding by leaving all of the money in the bank, earning interest over time on the previous years' interest payments as well is the original amount deposited (note: again, all you need to do here is to write down the ormula, since actually computing the numerical value isn't possible without the help of a alculator)