Assume the value of the island of Manhattan has grown at an exponential rate of 8% per
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Assume the value of the island of Manhattan has grown at an exponential rate of 8% per year since 1626 when Peter Minuit of the Dutch West India Company purchased the island for $24. The value of the island, V, at any time, t, in years after 1626, can be found by the formula V(t) = 24e0.08t. What is the value of the island in 2016, 390 years after Minuit purchased it? Use a scientific calculator and give your answer in scientific notation as provided by your calculator.
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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