In 2018, an Action Comics No. 1, featuring the first appearance of Superman, was sold at...
| In 2018, an Action Comics No. 1, featuring the first appearance of Superman, was sold at auction for $573,600. The comic book was originally sold in 1938 for $.10. What was the annual increase in the value of this comic book? (Do not round intermediate calculations and enter your anwer as a percent rounded to 2 decimal places, e.g., 32.16.) |
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Homework Answers
Annual increase = (FV / PV)1/t – 1
Annual increase = ($573,600 / $0.10)1/80 – 1
Annual increase = 0.2147 or 21.47%
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