On December 13, 2012 you could read in The New York Times that the piano from Rick's place in the 1942 movie Casablanca is for auction. up Sotheby's expects [it] to sell from $800,000 to $1.2 million in the auction on Friday. That is between 34 to 48 times what [Ingrid] Bergman was paid for sharing top billing with Humphrey Bogart. [R219] (a) How much was Ingrid Bergman paid for her role in the film? Calculate this two ways using the data in the quotation and comment on what you discover. (b) Would adjusting her pay to take inflation into account allow her to bid on the piano in 2012? (c) What compound interest rate would she have to have earned on her pay to bid on the piano in 2012? (d) Find out what happened at the auction.
On December 13, 2012 you could read in The New York Times that the piano from Rick's place in the 1942 movie Casablanca is for auction. up Sotheby's expects [it] to sell from $800,000 to $1.2 million in the auction on Friday. That is between 34 to 48 times what [Ingrid] Bergman was paid for sharing top billing with Humphrey Bogart. [R219] (a) How much was Ingrid Bergman paid for her role in the film? Calculate this two ways using the data in the quotation and comment on what you discover. (b) Would adjusting her pay to take inflation into account allow her to bid on the piano in 2012? (c) What compound interest rate would she have to have earned on her pay to bid on the piano in 2012? (d) Find out what happened at the auction.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
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Exercise 9.6.29. [S][Section 9.1][Goal 9.2] "As Time Goes By".
On December 13, 2012 you could read in The New York Times that the piano from Rick's
place in the 1942 movie Casablanca is up for auction.
Sotheby's expects [it] to sell from $800,000 to $1.2 million in the auction on Friday.
That is between 34 to 48 times what [Ingrid] Bergman was paid for sharing top billing
with Humphrey Bogart. [R219]
(a) How much was Ingrid Bergman paid for her role in the film? Calculate this two ways using
the data in the quotation and comment on what you discover.
(b) Would adjusting her pay to take inflation into account allow her to bid on the piano in 2012?
(c) What compound interest rate would she have to have earned on her pay to bid on the piano
in 2012?
(d) Find out what happened at the auction.
50
P
1.251
0) ²²
Dels
Exercise
initial am
(4) P=
(b) y =
11
(c) S=5
P=
Exercise
1=2.099](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbc8d5fe8-c51e-4914-8d45-6bcdd10da2fd%2Fb6528b11-461d-492c-81c1-65d11da76f61%2Fopo16mf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:CENTS
R
we
hti
Exercise 9.6.29. [S][Section 9.1][Goal 9.2] "As Time Goes By".
On December 13, 2012 you could read in The New York Times that the piano from Rick's
place in the 1942 movie Casablanca is up for auction.
Sotheby's expects [it] to sell from $800,000 to $1.2 million in the auction on Friday.
That is between 34 to 48 times what [Ingrid] Bergman was paid for sharing top billing
with Humphrey Bogart. [R219]
(a) How much was Ingrid Bergman paid for her role in the film? Calculate this two ways using
the data in the quotation and comment on what you discover.
(b) Would adjusting her pay to take inflation into account allow her to bid on the piano in 2012?
(c) What compound interest rate would she have to have earned on her pay to bid on the piano
in 2012?
(d) Find out what happened at the auction.
50
P
1.251
0) ²²
Dels
Exercise
initial am
(4) P=
(b) y =
11
(c) S=5
P=
Exercise
1=2.099
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