Question

Suppose the first comic book of a classic series was sold in 1954. in 2015, the estimated price for this comic book in good condition was about $310,000. this represented a return of 22 percent per year. for this to be true, what was the original price of the comic book in 1954?

Answer 1

1954 to 2015 = 61 years

310,000 = x*(1.22)^61

where x i original price

x = 310,000 / 185,332

x = 1.67

Original price = 1.67 which seems a little high, but that's my answer.


x = 12.22