Question
In 1885, a person sold a house to a lady for $26. If the lady had put the $26 into a bank account paying 5%
In 1885, a person sold a house to a lady for $26. If the lady had put the $26 into a bank account paying 5% interest, how much would the investment have been worth in the year 2010 if interest were compounded in the following ways?
a) monthly b) continuously
a) If compounded monthly, the investment would be worth $______ in 2010. (Round to the nearest dollar as needed)
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
15th edition
1259994975, 125999497X, 1259631117, 978-1259631115
