Peter minuit bought manhattan island from the lenape tribe, Finance Basics

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Peter minuit bought manhattan island from the lenape tribe

Question: Peter Minuit bought Manhattan island from the Lenape tribe in 1626 for $24 worth of beads and trinkets. The 2014 estimate of the value of the land on this island was $1.4 trillion (1 trillion = 1012). What rate of return would the tribe have received if they had retained title to the island rather than selling it for $24? The rate of return is close to.

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Finance Basics: Peter minuit bought manhattan island from the lenape tribe

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