Suppose That the First Comic Book of a Classic Series

question 38

Multiple Choice

Suppose that the first comic book of a classic series was sold in 1966. In 2012, the estimated price for this comic book in good condition was about $340,000. This represented a return of 27 percent per year. For this to be true, what was the original price of the comic book in 1966?

• A)$5.00
• B)$5.28
• C)$5.50
• D)$5.71
• E)$6.00

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Definitions:

N Th Partial

Relates to the nth term in a sequence, often used in the context of partial sums.

N Th

Pertaining to an unspecified member of a sequence or series, representing a general or particular position.

Geometric Sequence

A series of numbers in which each subsequent term is derived by multiplying the term before it by a constant, non-zero figure referred to as the ratio.

Population

In statistics, population refers to the entire group of individuals or items that a study intends to investigate or draw conclusions from.