The Will of Benjamin Franklin

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´╗┐The Will of Benjamin Franklin By: Martha Martinko, Jenny Mitchell, Ale Ponce de Leon, Ran Tyrrell

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Life of Ben Franklin Born: 1706 Died: 1790 Occupations: researcher, creator, stateman, printer, philosopher, artist, economist One of the establishing fathers

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Benjamin Franklin on The Hundred Dollar Bill Philadelphia Hall

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Franklin's Codicil 2,000 pounds of Franklin's cash put aside. 1,000 pounds to occupants of Boston. 1,000 pounds to occupants of Philadelphia. Cash loaned to youthful understudies at 5% premium. Yearly intrigue paid back + 1/10 part of the primary Sum of central and intrigue loaned out to borrower once more. In 100 years: add up to entirety will be 131,000 pounds. 100,000 pounds ought to be utilized for open works. Staying 31,000 pounds ought to keep on being advanced. In 200 years: add up to entirety will be 4,061,000 pounds.

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Predicted and Actual Rate of Growth

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From 1794-1894 Actual Growth Rate Franklin's Prediction A(t)=A o e^rt 90000=1000e^100r r = 4.5% A(t)=A o e^rt 131000=1000e^100r r = 4.87%

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What ought to have happened to the cash?

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What truly happened to the cash In January 1894, the reserve had developed from 1,000 pounds to very nearly 90,000 pounds. Had increased 90 times rather than the 131 times Franklin had anticipated. Because of absence of financial specialists.

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Other connections To see the codicile of Benjamin Franklin click underneath : Benjamin Franklin's postscript

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Sources Library of Congress www.loc.gov The World of Benjamin Franklin http://sln.fi.edu/franklin/rotten.html Demana, Finney, Kennedy, Waits. Math: Graphical, Numerical, Algebraic . Google Search: Benjamin Franklin Pictures http://images.google.com/images?q=Benjamin+Franklin

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