In 2012, an Action Comics No. 1, featuring the first appearance of Superman, was

Question

In 2012, an Action Comics No. 1, featuring the first appearance of Superman, was sold at auction for $1,050,000. The comic book was originally sold in 1939 for $.05.

For this to have been true, what was the annual increase in the value of the comic book?

In 2012, an Action Comics No. 1, featuring the first appearance of Superman, was sold at auction for $1,050,000. The comic book was originally sold in 1939 for $.05.

For this to have been true, what was the annual increase in the value of the comic book?

Explanation / Answer

current value of comics is 1050000

year when it was purchased first = 1939

year when sold= 2012

total lapse year = 2012 - 1939 = 73

original purchased for $0.5

so the growth of comics in 73 years = (1050000/ 0.5 )*100 = 210,000,000 %

annual growth will be 210,000,000/73= 2876712%

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