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Business, 21.01.2020 06:31 liliaboop2012

While searching ancestry. com, you learn that you are a direct descendant and sole living heir of alexander hamilton who founded the bank of new york 235 years ago. fyi - his picture is on the us ten dollar bill.

mr. hamilton had coincidently deposited $10 in the newly founded bank and you are the sole beneficiary of the account, which earned 5% annualized interest compounded monthly.

assuming no deposits or withdrawals were made on the account, what is the account's approximate current value?

a. $954,000
b. $124,000
c. $1.24 million
d. $95,400
e. $128

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Answers: 3

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