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In 1626, Peter Minuit of the Dutch West India Trading Company purchased Manhattan Island from Native Americans for $24. Assuming an inflation rate of 3.5%,

In 1626, Peter Minuit of the Dutch West India Trading Company purchased Manhattan Island from Native Americans for $24. Assuming an inflation rate of 3.5%, the model that determines the value of Manhattan Island throughout the years is A =24e^0.035t where t is the time in years since 1626. With the given inflation rate, when was Manhattan Island worth $1,000,000

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