How much money would George Washington’s estate have today if, instead of throwing the $1 coin acros
Question: How much money would George Washington’s estate have today if, instead of throwing the $1 coin across the Delaware River in 1776, he deposited it in the Bank of Delaware earning 3% interest, compounded annually? How much more would it be worth if he could have used his influence and arranged a sweetheart deal with the bankers and gotten 5% instead? Now suppose that he had invested in an inventor that was producing colored sugar water, that he called Coca Cola. The company claims that they have provided returns of 15% per year for their investors. What would George’s estate have today if he had Coke to invest in at the time?
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Solution Format: Word Document
Solution Format: Word Document
