Yes it is a very wide canal and it is 10-mile wide, 40-mile long
No, the Panama canal is at the isthmus of Panama that connects South America with North America. It goes through Panama and is a strip of land 10 miles wide across the isthmus. The United States paid 10 million in cash with an annuity of 250,000 a year. With a renewable 99 year lease on the Canal Zone. This was in 1904 and was up in the 1990's. The canal zone is no longer under the supervision of the United States.
Colón, on the Atlantic end of the Canal, is 646 miles (1,041 km) due north of the equator. At Panamá City, on the Pacific end, it's 621 miles (1,000 km).
The Panama Canal is only 50 miles long. Passage runs through two lakes, one natural and the other artificial. There are three sets of locks that ships transit through.
According to the Panama Canal Authority, it takes from 8-10 hours for a port-to-port transit, depending on the size of the vesselAccording to the Panama Canal Authority, it takes from 8-10 hours for a port-to-port transit, depending on the size of the vesselWell that all depends on where you are going and where you are starting from. However the canal is 50 miles long and it could take anywhere from 8 to 10 hours, depending on the boat size.
the original plan was for a six mile canal, however the Hay-Bunua-Verilla Treaty widened the zone to 10 miles.
Panama was a part of Colombia but was fighting for independence from 1899 to 1902. Colombia rejected a deal with the US to build the canal, so the US backed Panama's claim of independence in return for permanent ownership of a strip of land 50 miles long and 10 miles wide through which they could build and operate the canal. It was completed 11 years later.
That point in the Atlantic Ocean is only 45 miles from the north end of the Panama Canal, so we'll assume that's the waterway you're referring to. We'd hate to have to swim it, though.
8 to 10 hours
According the Panama Canal Authorities, it takes 8 - 10 hours to cross.
10 years
Extreme Engineering - 2003 Widening the Panama Canal 1-10 was released on: USA: 4 June 2003