Question
Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be $48. Suppose that this money was invested at an
Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be $48. Suppose that this money was invested at an annual rate of 5.2% compounded quarterly. What would this investment be worth in 2020? (Round your answer to the nearest billion.)
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
