A rich family has been investors for decades. It all started when Alfred invested all his money in a chocolate factory. He invested 1 000 000 euros 150 years ago earning on average 10% per annum. How much would his investment be worth today 150 years later if compounded annually?
Answer with explanationAnswer: Option D
Use the annual formula above again here.
So now we have 1 000 000*((1+(10%)))^(150)=4 448 423.
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