The island of Manhattan was sold for $24 in 1626. Suppose the money had been invested in an account which compounded interest continuously. (a) How much money would be in the account in the year 2011 for the following yearly interest rates?Pay attention to the units after the answer areas. Round your answers to two decimal places. (i) 4% In the year 2011, there would be about X billion dollars in the account. (ii) 7%In the year 2011, there would be about X trillion dollars in the account. (b) If the yearly interest rate was 6%, in what year would the account be worth one billion dollars?Round your answer to the nearest integer. The account would be worth one billion dollars in the year : Enter your answer in accordance to the question statement
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
The island of Manhattan was sold for $24 in 1626. Suppose the money had been invested in an account which compounded interest continuously.
(a) How much money would be in the account in the year 2011 for the following yearly interest rates?
Pay attention to the units after the answer areas. Round your answers to two decimal places.
In the year 2011, there would be about X trillion dollars in the account.
Round your answer to the nearest integer.
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