Governor of the colony
In 1626 Peter Minuit, governor of the colony of New Netherland, bought the island of Manhattan from Indians paying with beads, cloth, and trinkets worth $24. Find the value of this sum in year 2010 at 5% compounded (a) annually and (b) continuously.
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In 1626 Peter Minuit, governor of the colony of New Netherland, bought the island of Manhattan from Indians paying with beads, cloth, and trinkets worth $24.
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