February 24, 2017

Homework Help: Finance/Investing

Posted by Amber on Sunday, September 21, 2008 at 8:34pm.

A comic book was purchased for 10 cents in 1948 and is now worth $55 today. What has been the average annual compound rate of return on this item?

I tried to use the formula R=[(y/x)^(1/n)]-1 and I come up with a negative answer. Please help!

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