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Andreyy89
3 years ago
7

Assume that in 2015, the first edition of a comic book was sold at auction for $1,920,000. the comic book was originally sold in

1942 for $.09.for this to have been true, what was the annual increase in the value of the comic book?
Business
1 answer:
alina1380 [7]3 years ago
4 0
Let
x------------------- > cost comic book sold in 1942--------------> <span>$1,920,000
</span>y------------------- > cost comic book sold in 2015--------------> $0.09
t------------------ > time---------------> (2015-1942)= 73 years
z-----------------> average increase per year

we know that
<span>z={[(x-y)/y]/t}*100
</span>then

z={[(1920000-0.09)/0.09]/73}*100=29,223,743 %

the answer is 29,223,743 %



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