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Solve problem related to bought the island of manhattan

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Reference no: EM131637856

Question: In 1626 Peter Minuit, governor of the colony of New Netherland, bought the island of Manhattan from Indians paying with beads, cloth, and trinkets worth $24. Find the value of this sum in year 2000 at 5% compounded a) continuously and b) annually.

Reference no: EM131637856

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