Peter Minuet bought an island from the Manhattoes Indians in 1626 for $24 worth of glass beads
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Peter Minuet bought an island from the Manhattoes Indians in 1626 for $24 worth of glass beads and trinkets. The 1991 estimate of the value of land on this island was $12 billion. What rate of return would the Indians have received if they had retained title to the island rather than selling it for $24?
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1991 1626 365 years n F P 1 i n 12 x 10 9 24 1 i 365 1 i ...View the full answer
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