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Peter Dutchman bought the island of Manhattan from the Indians in 1626 for goods that...

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Finance

Peter Dutchman bought the island of Manhattan from the Indians in 1626 for goods that cost $ 24. In 1976 (that is, after 350 years) The value of the Manhattan Islands, where downtown New York is located, was estimated at $ 40 billion. What are the simple and compound effective interest rates gives such an increase?

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