2. The purchase price of Manhattan Island, where much of the city of New York is...
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2. The purchase price of Manhattan Island, where much of the city of New York is concentrated, in the year 1626 was $24. After 391 years in 2017, you wonder what the value of the land might be, provided it has appreciated in value at a rate of 6% per year, every year. 2. The purchase price of Manhattan Island, where much of the city of New York is concentrated, in the year 1626 was $24. After 391 years in 2017, you wonder what the value of the land might be, provided it has appreciated in value at a rate of 6% per year, every year.
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