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?

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Definitions:

Readability

The ease with which a reader can understand or interpret a written text.

Design Feature

Specific elements or attributes incorporated into a product's design to improve its functionality or aesthetic appeal.

Androcentrism

A perspective or practice that places male human beings or masculinity at the center of one's worldview, implicitly regarding them as the norm.

Womanism

A social theory focusing on the experiences and struggles of women, especially women of color, emphasizing ethnicity, gender equality, and social justice.