# There is much folklore regarding Peter Minuit's purchase of Mahattan Island in 1626 from a Native American tribe.let's assume that his purchase price was as often mentioned, 24 US dollars. if that amount were placed in an account paying 5% annual interest and allowed to compound annually until 2015, how much would be in the account?

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by sweetysiri92
Pls give the answer urgent
answer is $4,196,126,573 ## Answers The Brainliest Answer! 2014-09-10T12:39:04+05:30 ### This Is a Certified Answer Certified answers contain reliable, trustworthy information vouched for by a hand-picked team of experts. Brainly has millions of high quality answers, all of them carefully moderated by our most trusted community members, but certified answers are the finest of the finest. Principal Amount = P =$ 24
Interest rate = 5 % per annum    So  r = 5
Number of years of deposit = 2015 - 1626 = 389 years
Interest is compounded annually.
So number of times interest is compounded = n = 389

Amount that would accumulate to, in the account, in 2015:

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