QUESTION ONE:

In September 1963, the first issue of the comic book X-MEN was issued. The original price for the issue was $0.15. By September 2013, 50 years later, the value of this comic book had risen to $9,200. What annual rate of interest would you have earned if you had bought the comic in 1963 and sold it in 2013? (percentage)

QUESTION TWO:

Bob Terwilliger received $13,616 for his services as financial consultant to the mayor's office of his hometown of Springfield. Bob says that his consulting work was his civic duty and that he should not recieve any compensation. So, he has invested his paycheck into an account paying 5.16 percent annual interest and left the account in his will to the city of Springfield on the condition that the city could not collect any money from the account for 150 years. How much money will the city receive in 150 years from Bob's generosity?

QUESTION THREE:

(Related to Checkpoint 5.2) (Future value) Leslie Mosallam, who recently sold her Porsche, placed $9,200 in a savings account paying annual compound interest of 6 percent. a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 2, 6, and 16 year(s) b. Suppose Leslie moves her money into an account that pays 8 percent or one that pays 10 percent. Rework part (a) using 8 percent and 10 percent. c. What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did? a. After placing S9,200 in a savings account paying annual compound interest of 6 percent, the amount of money that will accumulate if Leslie leaves the money in the bank for 2 year(s) is S. (Round to the nearest cent.) If she leaves the money in the bank for 6 years, the amount of money that will accumulate is $. (Round to the nearest cent.) If she leaves the money in the bank for 16 years, the amount of money that will accumulate is $. (Round to the nearest cent.)