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The Will of Benjamin Franklin

The Will of Benjamin Franklin. By: Martha Martinko, Jenny Mitchell, Ale Ponce de Leon, Ran Tyrrell. Life of Ben Franklin. Born: 1706 Died: 1790 Occupations: scientist, inventor, stateman, printer, philosopher, musician, economist One of the founding fathers. Benjamin Franklin on

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The Will of Benjamin Franklin

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  1. The Will of Benjamin Franklin By: Martha Martinko, Jenny Mitchell, Ale Ponce de Leon, Ran Tyrrell

  2. Life of Ben Franklin Born: 1706 Died: 1790 Occupations: scientist, inventor, stateman, printer, philosopher, musician, economist One of the founding fathers

  3. Benjamin Franklin on The Hundred Dollar Bill Philadelphia Hall

  4. Franklin's Codicil 2,000 pounds of Franklin's money set aside. 1,000 pounds to inhabitants of Boston. 1,000 pounds to inhabitants of Philadelphia. Money lent to young apprentices at 5% interest. Yearly interest paid back + 1/10 part of the principal Sum of principal and interest lent out to borrower again. In 100 years: total sum will be 131,000 pounds. 100,000 pounds should be used for public works. Remaining 31,000 pounds should continue to be loaned. In 200 years: total sum will be 4,061,000 pounds.

  5. Predicted and Actual Rate of Growth

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

  7. What should have happened to the money?

  8. What really happened to the money In January 1894, the fund had grown from 1,000 pounds to almost 90,000 pounds. Had multiplied 90 times instead of the 131 times Franklin had expected. Due to lack of investors.

  9. Other links To view the codicile of Benjamin Franklin click below: Benjamin Franklin's codicil

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

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