In 1626, peter minuit purchased manhattan island from the native americans for $24 worth of trinkets and beads. find what the $24 would be worth in the year 2014 if it had been deposited in a bank paying 5% interest compounded quarterly. (round to the nearest dollar)

$24 would be worth $5666315207

Step-by-step explanation:

Given amount invested(principal)  = $24

rate of interest = 5% = 0.05

Time period = 2014 - 1626= 388

compounded quarterly so n= 4

Apply compound interest formula

Plug in the values in the formula

A = 5666315206.95264

A = $5666315207

a=24; b=12

step-by-step explanation:

a/b=2: 1

a=2b

36/(1+2)=12

b=12

a=24

if you're trying to figure out how much each ounce cost it would be 0.20

cents each ounce