Peter Minuit bought an island from the ManhattoesIndians
Chapter , Problem 7-6(choose chapter or problem)
Peter Minuit bought an island from the ManhattoesIndians in 1626 for $24 worth of glass beads andtrinkets.The 1991estimate ofthe valueof landon thisisland was $12 billion. What rate of return would theIndians have received if they had retainedtitle to theisland rather than selling it for$24?
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