5
Choose the correct answer below, rounding to the nearest dollar
OA. $1,955,515,834
OB. $2,118,375,600
OC. $2,035,317,427
OD. $1,878,843,137
Points: 0 of 1
In 1777, a man loaned an army $457,890 in gold and supplies. Due to a disagreement over the method of repayment, he was never repaid, dying penniless. In 1986, his descendants sued the
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government over the 209-year-old debt. If they used an interest rate of 4% and daily compounding, how much money did the family demand in their suit? (Hint: Use the compound interest formula with
t=209 years)
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BUNT