Assume that in 2018, the first edition of a comic book was sold at auction for $585,400. The comic book was originally sold in 1935 for $.05. For this to have been true, what was the annual increase in the value of the comic book? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual increase %
Assume that in 2018, the first edition of a comic book was sold at auction for $585,400. The comic book was originally sold in 1935 for $.05. For this to have been true, what was the annual increase in the value of the comic book? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual increase %
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![Assume that in 2018, the first edition of a comic book was sold at auction for $585,400.
The comic book was originally sold in 1935 for $.05.
For this to have been true, what was the annual increase in the value of the comic book?
(Do not round intermediate calculations and enter your answer as a percent rounded
to 2 decimal places, e.g., 32.16.)
Annual increase
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff51ee215-29b3-4450-a2e3-203941a10cd5%2Fc566edec-7876-413a-a1f9-11d4c5d047eb%2Fs3ucrb6_processed.png&w=3840&q=75)
Transcribed Image Text:Assume that in 2018, the first edition of a comic book was sold at auction for $585,400.
The comic book was originally sold in 1935 for $.05.
For this to have been true, what was the annual increase in the value of the comic book?
(Do not round intermediate calculations and enter your answer as a percent rounded
to 2 decimal places, e.g., 32.16.)
Annual increase
%
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