In 2010 a man mailed a $400 check to another man to repay a $400 debt of his great great grandfather who died in 1849. A bank estimated interest on the loan to be $454 million dollars for the 155 years it was due. Find the interest rate the bank was using assuming the interest is compounded annually.
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Home » Mathematics » In 2010 a man mailed a $400 check to another man to repay a $400 debt of his great great grandfather who died in 1849. A bank estimated interest on the loan to be $454 million dollars for the 155 years it was due.