Question
According to an old myth, Native Americans sold the island of Manhattan about 400 years ago for s24. If they had invested this amount at an interest rate of 7 percent per year, how much, approximately, would they have today?
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First, we need to find out how many years have passed since the investment was made. We know it was about 400 years ago, so we can use that number. Show more…
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According to an old myth, Native Americans sold the island of Manhattan about 400 years ago for s24 If they had invested this amount at an interest rate of 7 percent per year, how much, approximately, would they have today?
According to an old myth, Native Americans sold the island of Manhattan about 400 years ago for $\$$24. If they had invested this amount at an interest rate of 7 percent per year, how much, approximately, would they have today?
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