NYC at 7.5% over 380 Years...

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ThinkBlog demonstates the importance of compound interest by calculating whether Peter Minuit got a good deal on the island of Manhattan in 1626. Their explanation and handy charticle:

To understand the magic of compound interest, in 1626, Dutchman Peter Minuit purchased the entire island of Manhattan for $24 from the Wappinger Indians... Compound interest has been called the eighth wonder of the world and with the help of the ninth wonder of the world, the HP 12C, we can calculate whether Peter Minuit got a good deal or not.

And if Donald Trump had been around to borrow the $24...
The Power of Growth [ThinkBlog]

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