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In 1626, an explorer convinced a group of indigenous peoples to sell him an island for $27. If the indigenous peoples had put the $27 into a bank account paying 5%, how much would the investment be worth in the year 2005 if the interest were compounded a. monthly? b. continuously? Click the icon to view some finance formulas. a. How much would the investment be worth if the money were compounded monthly? OA. $4,192,532,906 OB. ... $4,632,502,908 OC. $4,407,030,846 O D. $4,869,510,549

In 1626, an explorer convinced a group of indigenous peoples to sell him an island for $27. If the indigenous peoples had put the $27 into a bank account paying 5%, how much would the investment be worth in the year 2005 if the interest were compounded a. monthly? b. continuously? Click the icon to view some finance formulas. a. How much would the investment be worth if the money were compounded monthly? OA. $4,192,532,906 OB. ... $4,632,502,908 OC. $4,407,030,846 O D. $4,869,510,549

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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19: answer A and B questions
K In 1626, an explorer convinced a group of indigenous peoples to sell him an island for $27. If the indigenous peoples had put the $27 into a bank account paying 5%, how much would the investment be worth in the year 2005 if the interest were compounded a. monthly? b. continuously? O Click the icon to view some finance formulas. 100 a. How much would the investment be worth if the money were compounded monthly? A. $4,192,532,906 OB. ... $4.632,502,908 O C. $4,407,030,846 @ O D. $4,869,510,549 87°F 01 X
Transcribed Image Text:K In 1626, an explorer convinced a group of indigenous peoples to sell him an island for $27. If the indigenous peoples had put the $27 into a bank account paying 5%, how much would the investment be worth in the year 2005 if the interest were compounded a. monthly? b. continuously? O Click the icon to view some finance formulas. 100 a. How much would the investment be worth if the money were compounded monthly? A. $4,192,532,906 OB. ... $4.632,502,908 O C. $4,407,030,846 @ O D. $4,869,510,549 87°F 01 X
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Step 1: Given.

Given: In 1626 an explorer convinced a group of indigenous peoples to sell him an island for $27 .  Indigenous peoples had put $27 into a bank account paying 5%.

To find: How much would the investment be worth in the year 2005 if the interest were compounded 

a) Monthly?  b) Continuously?

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