pose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be $40. Suppose that this money was invested at an annual rate of 5.7% compounded quarterly. What would this investment be worth in 20

Entrepreneurial Finance
6th Edition
ISBN:9781337635653
Author:Leach
Publisher:Leach
Chapter13: Other Financing Alternatives
Section: Chapter Questions
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Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be $40. Suppose that this money was invested at an annual rate of 5.7% compounded quarterly. What would this investment be worth in 2013? (Round your answer to the nearest billion.) 

 

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