Should he cash in the cd or use the? in-store financing

Reference no: EM133633306

Question: Antonio would like to replace his golf clubs with a? custom-measured set. A local sporting goods megastore is advertising custom clubs for ?$830?, including a new bag.? In-store financing is available at 2.72 ?percent, or he can choose not to renew his $500 certificate of deposit? (CD), which just matured. The advertised CD renewal rate is

3.55 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. Should he cash in the CD or use the? in-store financing?? Why? ?Note: Round intermediate computations to at least five? (5) decimal places.

Part 1

The? after-tax CD earnings rate is enter your response here ?%.

Reference no: EM133633306

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