Mathematics, 28.04.2021 04:40 alexandria3498
Rob bought a 1965 Fender Jazzmaster vintage electric guitar in 1980 for a price of $150. In 2010 it was appraised for $4,200. Suppose $150 was deposited in a variable-rate certifi cate of deposit for 30 years with interest compounded daily. a. If the CD paid 12.3% interest for the fi rst 7 years, what would the balance be after the fi rst 7 years? Round to the nearest cent. b. If the CD paid 6% interest for the next 10 years, what would the balance be after the fi rst 17 years? Round to the nearest cent. c. If the CD paid 4.1% interest for the remaining 13 years, what would the balance be after 30 years? Round to the nearest cent. d. What is the difference between the appraised value of the guitar and the amount the original $150 would have earned in the CD?
Answers: 1
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Rob bought a 1965 Fender Jazzmaster vintage electric guitar in 1980 for a price of $150. In 2010 it...
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