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sdas [7]
2 years ago
9

In 1626, Dutchman Peter Minuit purchased Manhattan Island from a local Native American tribe. Historians estimate that the price

he paid for the island was about $24 worth of goods, including beads, trinkets, cloth, kettles, and axe heads. Many people find it laughable that Manhattan Island would be sold for $24, but you need to consider the future value (FV) of that price in more current times. If the $24 purchase price could have been invested at a 6% annual interest rate, what is its value as of 2018 (392 years later)?
Business
1 answer:
nalin [4]2 years ago
6 0

Answer:

$199,576,970,307.56

Explanation:

Given:

Price paid for the island = $24

Annual interest rate, r = 6%

Duration, n = 392 years

Now,

Future value is given as:

Future value = Present value × ( 1 + r )ⁿ

on substituting the respective values, we get

Future value = $24 × ( 1 + 0.06 )³⁹²

or

Future value = $24 × 8315707096.148

or

Future value = $199,576,970,307.56

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26%

Explanation:

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2 years ago
Yuan is signing a letter of intent to attend the University of Oklahoma after getting a gymnastics scholarship offer. Which step
tia_tia [17]

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The answer is A

Explanation:

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7 0
1 year ago
A development company is advertising that the mean area of the apartments in a new complex is 1,450 square feet. The complex con
Doss [256]

Answer:

E) Select at random 50 apartments from all the apartments in the 10 buildings.

Explanation:

Unbiased sampling is when each element has an equal chance of getting picked out of a sample population.

In this case, a random selection of 50 apartments from all the 10 buildings gives each apartment an equal probability to get selected while all other options introduce some sort of a bias. There fore the option that gives unbiased opportunity of selection is option E.

Hope that helps.

4 0
2 years ago
Seaneng, a company that has been manufacturing printers for computers for the past 20 years, initially specialized in dot matrix
goblinko [34]

Answer:

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<em />

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7 0
2 years ago
NH 2015 is the only amusement park in Goleta (it has monopoly power). The owners have decided to enact a two-part tariff: a fixe
maxonik [38]

Answer:

The profits will be "24.5".

Explanation:

As we know,

Monopoly Power, MC=\frac{dC(q)}{dq}

                                      =11

Withe either two-part tariff,

P = MC

and,

Profit = CS (Costumer surplus)

Now,

p=18-q=11

and, q = 7

When,

q = 0 and p = 18

Profit = (\frac{1}{2})\times (18-11)\times 7

⇒       = \frac{1}{2}\times 7\times 7

⇒       = \frac{1}{2}\times 49

⇒       = 24.5

4 0
1 year ago
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