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

question 81

Short Answer

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?

Recognize the role of technology in shaping modern societies and the challenges of technological advancements.

Understand the concepts of cultural homogenization and resistance within the context of globalization.

Understand the variability in eyewitness identification accuracy and confidence between genders.

Identify and describe the subsystems and components of human memory, including sensory, working, and long-term memories.

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Definitions:

Developing Countries

Countries characterized by a lower quality of life, underdeveloped industrial sector, and a lower Human Development Index (HDI) compared to other nations.

Traditional Subsistence Agriculture

Farming practices aimed at self-sufficiency, growing crops and raising livestock primarily for the producer's family consumption, with minimal surplus for trade.

Genetic Research

The scientific study of genes and heredity, focusing on understanding the structure, function, evolution, and mapping of genomes.