## Answers

Principal = $24

Time from 1626 to 2019 = 393 years

Rate of Appreciation = 7%

a) Using Simple Interest

SI = (P*R*T)/100

SI = (24*7*393)/100 = $660.24

Value in 2019 = 24+660.24 = $684.24

b) Using Compound interest rate

A = P(1+r/100)^{T}

A= 24*(1.07)^{393}

Value in 2019 will be A = $8472973966004.32

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