oofoofoof1
07.04.2020 •
Business
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 6 percent per year, approximately how much would they have had today
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Ответ:
$3,180,953,609,845.413
Explanation:
The computation is shown below:
Given that
Number of years = 400
Sale value = $24
Rate of interest = 6 percent
So the today amount is
= Sale value of the island × (1 + interest rate)^number of years
= $24 × (1.06)^(400)
= $24 × 13253973743.5589
= $3,180,953,609,845.413
We simply applied the above formula
Ответ:
Elaborate plz
Explanation: