In 1626 Manhattan was purchased for $24. If this money had been invested at inte
ID: 3639882 • Letter: I
Question
In 1626 Manhattan was purchased for $24. If this money had been invested at interest compounded annually, what would the invest be in 2012? When would the amount exceed 5 trillion dollars if the interest rate was 2-8%.Use loop to control your program. Do not use exponentiation or the compound interest formula. Instead use and iterative process with a while loop as follows: assume B is balance at the start of the year (1626 = 24) and r is the rate expressed as a fraction (0.02). Print 1626 and thereafter the balance for every year that is divisible by 50 (1626. 1650, 1700..2000). Print also balance in 2012 and the year the balance equals are exceeds 5000000000000.