Solution-What would an acre of land be worth

What would an acre of land be worth

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Q1. The purchase price of an acre of land in the Louisiana purchase in 1803 was about 6 cents. Suppose the value of this property grew at an annual rate of 4.5% compounded annually. What would an acre of land be worth in 2010?

Q2. Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be $43. Suppose that this money was invested at an annual rate of 5.3% compounded quarterly. What would this investment be worth in 2013?

Q3. Find the future values of the ordinary annuities at the given annual rate r compounded as indicated. The payments are made to coincide with the periods of compounding.

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What would an acre of land be worth

Reference no: EM133069765

Reference no: EM133069765

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