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finance question show the steps and answer

  • From Mathematics, General Mathematics
  • Due on 14 Oct, 2019 02:19:00
  • Asked On 13 Oct, 2019 06:20:02
  • Due date has already passed, but you can still post solutions.
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1.       Antonio would like to replace his gold clubs with a custom-measured set. A local sporting goods megastore is advertising custom clubs for $520, including a new bag. In-store financing is available at 3.93 percent, or he can choose not to renew his $300 certificate of deposit (CD), which just matured. The advertised CD renewal rate is 5.08 percent. Antonio knows the in-store financing costs would not affect his taxes, but he knows he’ll pay taxes (25 percent federal and 5.75 percent state) on the CD interest earnings.

The after-tax CD earnings rate is   %

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