How much money the native population would have

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Reference no: EM131394551

(Program) According to legend, the island of Manhattan was purchased from the native Indian population in 1626 for $24. Assuming this money was invested in a Dutch bank paying 4% simple interest per year, construct a table showing how much money the native population would have at the end of each 50-year period, starting in 1626 and ending 400 years later. Use the relationship that the money available at the end of each 50-year period = the amount of money in the account at the start of period × the quantity (1 + .04)⁵⁰

Reference no: EM131394551

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