Question 1194798
.
In 1626 the Dutch bought the Island of Manhattan from the natives for beads worth $19. 
If the natives had received $19 in cash, instead of the beads, and had invested the money 
at 3 % /a compounded annually, what would the investment be worth on the anniversary date 
of the investment in the year 2016?
~~~~~~~~~~~~~~~~~~~~~


<pre>
    Future value = {{{19*1.03^(2016-1626)}}} = {{{19*1.03^390}}} = 1928729.11 dollars.
</pre>

Solved.


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To see other similar and different solved problems on discretely compounded accounts,  &nbsp;look into these two lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compounded interest percentage problems</A> 

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-discretely-compound-accounts.lesson>Problems on discretely compound accounts</A> 

in this site, &nbsp;and learn the subject from there.



After reading these lessons, &nbsp;you will tackle such problems on your own without asking for help from outside.


Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lessons are the part of this online textbook under the topic "<U>Logarithms</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.



Happy learning &nbsp;(&nbsp;!&nbsp;)