Answered: The United States purchased Alaska from…

The United States purchased Alaska from the Russian Empire approximately 150 years ago for $7.2 million. Using an annual rate of 4%, approximately what is the equivalent dollar amount today?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter27: Multinational Financial Management

Section: Chapter Questions

Problem 10P

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The United States purchased Alaska from the Russian Empire approximately 150 years ago for $7.2 million. Using an annual rate of 4%, approximately what is the equivalent dollar amount today?

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