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It is said (S Branch Walker) that the Indian who sold Manhattan for S25 was a sharp salesman. If he had put his $25 away

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It is said (S Branch Walker) that the Indian who sold Manhattan for S25 was a sharp salesman. If he had put his $25 away at 9% compounded semiannually, it would now be worth over $4 billion and he could buy most of the now-improved land back' Assume that this seller invested on January 1 1701 the $25 he received (Round your answers to the nearest whole dollar amount and not in millions.) Required: Use Excel to determine the balance of the investment as of December 31. 2015. assuming a 9% interest rate compounded semiannually Balance of the investment ________ Use Excel to determine the balance of the investment as of December 31 2015 assuming an 10% annual interest rate compounded semiannually Balance of the investment__________ What would be the balances for requirements 1 and 2 if interest is compounded quarterly? Assume that the account consisting of this investment had a balance of $4 5 billion as of December 31 2015 How much would the total amount be on December 31 2021. If the annual interest rate is 10%. compounded semiannually? Total amount _________

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