Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Our platform offers a seamless experience for finding reliable answers from a network of experienced professionals. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Assume that in 2018, the first edition of a comic book was sold at auction for $762,400. The comic book was originally sold in 1938 for $.05. For this to have been true, what was the annual increase in the value of the comic book

Sagot :

ayokenny2001

Answer:

See below

Explanation:

The above is calculated using;

A = P(1 + r/100)^n

Where

A = Future value

P = Present value

r = rate of interest

n = time period

762,400 = 0.05(1 + r/100) ^ 80

(762,400/0.05)^(1/80) = 1 + r/100

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We hope this was helpful. Please come back whenever you need more information or answers to your queries. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.