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Bill Boggs just applied for life insurance. During the application process, he indicated that he had never had pneumonia, when the truth is that he did have the disease as a baby. He did fully recover, however, and there were no permanent ill effects. Bill was unaware of having had pneumonia as a baby until a few weeks after he completed the application when his mother told him of the event.
Will this misstatement on the life insurance application be grounds for the insurer to cancel his life insurance after it is issued?
Why or why not? If he discovers his error, should he notify the insurer? Will his statements be treated as warranties, or as representations?
Susan wants to buy a house for $200,000. US Bank will give her the loan at 3.5% for 30 years if she puts 20% down and Dacotah Bank will give her the loan at 3.8% for 30 years if she puts 10% down. What will be her first month interest payment if she ..
Joelle purchased 100 shares of PAC stock for $20 per share and sold this same stock one year later for $25 per share. She paid commissions of $60 when she purchased the stock and $70 when she sold the stock. Dividends of $2 per share were paid during..
You opened a savings account at a bank and made an initial deposit. The account pays 8% interest compounded annually. You made no additional deposits and in exactly one year you close the account and take out off of the money. The balance at the time..
A five-year annuity of ten $8,000 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now. If the discount rate is 8 percent compounded monthly, what is the value of this annuity five years from now? What is ..
No-Growth Industries pays out all of its earnings as dividends. It will pay its next $3 per share dividend in a year. The discount rate is 16%. What is the price-earnings ratio of the company?
Dinklage Corp. has 9 million shares of common stock outstanding. The current share price is $81, and the book value per share is $8. The company also has two bond issues outstanding. Assume that the overall cost of debt is the weighted average of tha..
Rogers Inc. had 600,000 shares of $2 par common stock outstanding at the end of both 2013 and 2014. Retained earnings at the end of 2013 amounted to $2,160,000. No dividends were paid during 2014, and net income for the year was $600,000. Determine R..
Treasury bills and Treasury notes are an investment security issued by the U.S. government. A Treasury bill matures within one year and investors typically roll over the matured Treasury bill and purchase another Treasury bill the same day. Treasury ..
Firm X’s stock is currently selling for $60 a share. The firm is expected to earn $5.40 per share this year and to pay a year-end dividend of $3.60. Show your work.
Michael Industries has agreed to be acquired by Scott Enterprises for $20,855 worth of Scott Enterprises stock. Scott Enterprises currently has 7,326 shares of stock outstanding at a price of $25.11 a share. Michael Industries has 1,733 shares outsta..
Project H requires an initial investment of $100,000 and the produces annual cash flows of $45,000 per year for each of the next 3 years. Project T also requires an initial investment of $100,000 and produces cash flows of $30,000 in year 1, $40,000 ..
What are the similarities and differences in taking the short side of a futures contract and short selling a stock? How do the cash flows differ?
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