Question

In: Finance

​In September 1963, the first issue of the comic book X-MEN was issued. The original price for that issue was $0.12.

In September 1963, the first issue of the comic book X-MEN was issued. The original price for that issue was $0.12.

By September 2019, 56 years later, the value of the near-mint copy of this comic book had risen to $55,000.

What annual rate of interest would you have earned if you had bought the comic in 1963 and sold it in 2019?

The annual rate of interest you would have earned is nothing %. (Round to two decimal places.)

Solutions

Expert Solution

Information provided:

Present value= $0.12

Future value= $55,000

Time= 56 years

The annual rate of return is calculated by entering the below in a financial calculator:

PV= -0.12

FV= 55,000

N= 56

Press the CPT key and I/Y to compute the annual rate of return.

The value obtained is 26.21.

jeff jeffy answered 2 years ago
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