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When He Died in 1790, Benjamin Franklin Left $4,600 to the City

Question 81

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When he died in 1790, Benjamin Franklin left $4,600 to the city of Boston, with the stipulation that the money and its earnings could not be used for 100 years. The bequest grew to $332,000 by 1890. What equivalent compound annual rate of return did the bequest earn during the 100 year period?

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4.37% comp...

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