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In 1626 Peter Minuit convinced the Wappinger Indians to sell him Manhattan Island for $24. If the Native Americans had put the $24 into a

In 1626 Peter Minuit convinced the Wappinger Indians to sell him Manhattan Island for $24. If the Native Americans had put the $24 into a bank account paying compound interest at a 5% rate, compounded monthly, how much would the investment be worth today?

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