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Assume the total cost of a college education will be $375,000 when your child enters college in 17 years. You presently have $61,000 to invest.
What annual rate of interest must you earn on your investment to cover the cost of your child’s college education? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Annual rate %
The lender deducts this interest amount from the loan up front and gives you $17,500. In this case, we say that the discount is $2,500. What is the effective interest rate?
Mike just arranged to purchase a $400,000 vacation home with a 20% down payment. The mortgage has an 8% stated annual interest rate compounded monthly and calls for equal monthly payments over the next 30 years. Meaning that the balance of the loan m..
A $100,000 Treasury bond has a bid price quote of 115.20 and an asked quote of 115.23. In dollars, what is the value of the bid-ask spread on this bond?
You want to make a deposit at the end of each month so you will have $4697 in your account at the end of 6 years. The account pays a nominal annual rate of 9% compounded monthly. How much do you have to deposit each month to achieve your goal?
You are evaluating a project for The Ultimate recreational tennis racket, guaranteed to correct that wimpy backhand. You estimate the sales price of The Ultimate to be $300 per unit and sales volume to be 1,000 units in year 1; 1,250 units in year 2;..
Suppose Paccar’s current stock price is $108.26 and it is likely to pay a $3.06 dividend next year. Since analysts estimate Paccar will have an 5.6 percent growth rate, what is its required return?
Rogue Industries reported the following items for the current year: Sales = $3,000,000; Cost of Goods Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000; Interest Expense = $30,000; Marketing Expenses = $80,000; an..
Suppose Mick's is projecting a 20% increase in sales for the coming year, and that cost of goods sold and all expenses remain a constant percentage of sales. Also assume that the amount of depreciation and interest paid and the firm's tax rate (35%) ..
A bond’s market price is $1,150. It has a $1,000 par value, will mature in 14 years, and has a coupon interest rate of 9 percent annual interest, but makes its interest payments semiannually. The bond’s yield to maturity if it matures in 28 years is?
Prepare a report for the managing director both outlining the theoretical arguments and explaining the real-world influences on the gearing levels of firms.
After graduating from college, you are hired by a company that offers a 401(k) retirement plan. You would like to save enough in this plan so that when you retire in 35 years you have an account balance of $1 million. You plan to make monthly contrib..
Kevin’s Wholesale is considering extending trade credit to some customers previously considered poor risks. Sales would increase by $350,000 if credit is extended to these new customers. Of the new accounts receivable generated, 15 % will be uncollec..
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