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Baily's Paradox, Richard P. Brief
Baily's Paradox, Richard P. Brief
Accounting Historians Journal
The following question appeared in Francis Baily's celebrated 1808 text on interest and annuities: "If a penny had been put out at 5 percent compound interest at the birth of Christ; to what sum would it amount at the end of the year 1810?" . A discussion of various solutions follows.