Compound Interest Thwarts Hollywood Stunt In 1944, a Hollywood publicist decided to dramatize the opening of the movie Knickerbocker Holiday by arranging a stunt in which three bottles of whiskey, originally thought to have been given to the Canarsie Indians for the island of Manhattan, were to have been returned to the mayor of New York City plus 8% interest, compounded annually, in bottles. To his horror, just before the gala event, he discovered that the compound interest on the whiskey over a period of 320 years would be more than 100 million bottles. As the agent put it, “The stunt just ain’t worth it.” Exactly how many bottles of whiskey would need to have been given to New York City’s mayor?
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.