In March 1963, Ironman was first introduced in issue number 39 of Tales of Suspense. The original price for that issue was 18 cents. By March of 2015, 52 years later, the value of this comic book had risen to $19,534. What annual rate of interest would you have earned if you had bought the comic in 1963 and sold it in 2015 (52 years later)? The annual rate of interest you would have earned if you had bought the comic in 1963 and then sold it in 2015 (52 years later) is ☐ %. (Round to three decimal places.)

In March 1963, Ironman was first introduced in issue number 39 of Tales of Suspense. The original price for that issue was 18 cents. By March of 2015, 52 years later, the value of this comic book had risen to $19,534. What annual rate of interest would you have earned if you had bought the comic in 1963 and sold it in 2015 (52 years later)? The annual rate of interest you would have earned if you had bought the comic in 1963 and then sold it in 2015 (52 years later) is ☐ %. (Round to three decimal places.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

See similar textbooks

Question

The annual rate of interest you would have earned if you had bought the comic in 1963 and then sold it in 2015 (52 years later) is ? (Round to three decimal places.)

In March 1963, Ironman was first introduced in issue
number 39 of Tales of Suspense. The original price for
that issue was 18 cents. By March of 2015, 52
years later, the value of this comic book had risen to
$19,534. What annual rate of interest would you have
earned if you had bought the comic in 1963 and sold it
in 2015 (52 years later)?
The annual rate of interest you would have earned if
you had bought the comic in 1963 and then sold it in
2015 (52 years later) is ☐ %. (Round to three
decimal places.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

In March 1963, Ironman was introduced in issue 39 of the comic book Tales of Suspense. The original price for that issue was $0.11. By March 2015 , 52 years later, the value of this comic book, given the condition it's in, had risen to $9,900. What annual rate of interest would you have earned if you had bought the comic book in 1963 and sold it in 2015 ? The annual rate of interest you would have earned if you had bought the comic book in 1963 and sold it in 2015 is enter your response here %. (Round to two decimal places.)
On March 1, 2020 Giant Jumbo Clown Costumes borrowed money from Second Friendly National Bank by issuing a $125,000, 180-day, non-interest bearing note. The note was discounted on a 13.5% basis. Assume 360 days in a year. Required: Compute the following: 1. How much money did Giant Jumbo receive? 2. What was the total amount of interest paid? 3. What is the effective 180-day interest rate on this note payable? 4. What is the approximate annual effective interest rate on this note payable? 5. Record the journal entry(ies)for the issuance of the note.
Use the Present Value tables found in Appendix E, of your textbook, to answer the following questions. Round each portion of your answer to the nearest dollar. On January 1, 2021, Advance Auto purchased a machine and made a cash down payment of $2,400. The seller agreed to allow Advance Auto to pay for the balance of the machine over a 3-year period at 10% interest and with equal payments of $10,133 due at the end of 2021, 2022, and 2023. What amount should Advance Auto record the asset account, Machine, for on the day the contract was initiated? (Round to the nearest dollar.) Select one: O O O a. $30,399 b. $27,599 c. $28,800 d. $26,400 e. $25,199 x
On July 1, 2020 Trolley & Train World borrowed money from First Friendly National Bank by issuing a $25,000, 90 day, non-interest bearing note. The note was discounted to 14%. Required:Compute the following: Use 360-days in a year. How much money did Trolley and Train World receive?$ What was the total amount of interest paid?$ What is the effective 90 day interest rate on this note? Round percentage to two decimals.% What is the approximate annual effective interest rate on this note payable? Round your intermediate calculation to four decimal places and your final answer to two decimal places.%
1. Compute the requested value(s) for each scenario. Show all component numbers that factor into determination of the final answer(s) a. On January 1, 1963, a kid from Sioux Falls purchased a limited edition Superman comic at the original market price of 12 cents. On January 1, 1997 (34 years later), the comic was sold at auction for $2,500. What annual rate of return did this kid earn on the comic? Give typing answer with explanation and conclusion
Suppose that 2 years ago you bought an old record player at a yard sale for $5.99. You saw today on E-bay that the same record player is selling for $53.63. If you were to sell the record play at that price today, what would be the implied return percentage? (Convert to a percent. Round to 2 decimal places.
A $100,000 168-day T-bill is purchased for $99,004 on its issue date. What simple ate of interest will it yield the buyer if it is held until maturity? Express your answer as an annual percentage rounded to 2 decimal places but don't nclude the % sign. our Answer:
1) If P175,000 is due on November 25,2019, find the proceeds on August 15, 2020, if the discount rate was 18 %? 2) If the discount rate is 17 2%, find the amount due on P90,500 at the end of one and a half years. 3) Find the discount rate if P10,000 is the present value of P10,500 which is due at the end of 4 months.
To remodel your business, you need to sign a 190-day note with proceeds of $16,559.57 and a maturity value of $20,000. Find the APR.
1) A factoring company discounts a client a document with a maturity value of 40,000 at a discount rate of 16% simple per year with a maturity of 90 days. On the same day, the factoring company discounts the document at a financial institution that offers a discount rate of 15% simple annual rate. What was the profit that the factoring company obtained? options: 100 72 181 142
Your company has been offered credit terms on its purchases of 4/30, net 90days. What will be the nominal annual cost of trade credit if your companypays on the 35th day after receiving the invoice? (Assume a 365-day year.) Show your complete solution.
10. Apricot, Inc purchased a new machine on November 1, 2017 for $1,000,000 on credit. The supplier has offered Apricot terms of 2/10, net 45. The bank has a current interest rate of 16 percent. Assume a 365 day year. a) Compute the cost of giving up cash discount. What is the effective rate of interest if the firm decides to take the cash discount by borrowing money on a discount basis?