SOLUTION: some estimate the (2012) CURRENT VALUE OF MANHATTAN TO BE ABOUT $8000,000,000,000 Assuming this is true, what would be the fair price for Peter to pay for Manhattan in 1626, assumi

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Question 962614: some estimate the (2012) CURRENT VALUE OF MANHATTAN TO BE ABOUT $8000,000,000,000 Assuming this is true, what would be the fair price for Peter to pay for Manhattan in 1626, assuming an interest rate of 5% compounded annually?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
It's 2015? Are you traveling from the past?
i=0.05
t=2012-1626=386
8x10%5E12=P%281.05%29%5E386
P=52968.85