According to legend, the island of Manhattan was purchased from the native
Indian population in 1626 for $24. Assuming this money was invested in a Dutch bank paying
4% simple interest per year, construct a table showing how much money the native population
would have at the end of each 50-year period, starting in 1626 and ending 400 years later. Use
the relationship that the money available at the end of each 50-year period = the amount of
money in the account at the start of period × the quantity (1 + .04)50.
1
Expert's answer
2016-02-24T00:01:01-0500
#include <iostream> #include <iomanip> using namespace std; int main() { double s=24; double p=0.04; for(int i=0;i<=400;i+=50) { cout<<(i+1626)<<":\t"<<fixed<<setprecision(2)<<s<<endl; s=s*(1+p)*50; }
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