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Amanda Forsythe of Tampa, Florida, must decide wheter to buy or lease a car she has selected. She has negotiated a purchase price of $24,700 and could borrow the money to buy from her credit union by puting $3000 down and paying $515 per month for 48 months at 6.5 percent APR. Alternatively, she could lease the car for 48 months at $310 per month by paying a $3000 capital cost reduction and a $350 disposition fee on the car, which is projected to have a residual value of $8100 at the end of the lease. Use the Run the Numbers worksheet on page 232 to advise Amanda about wheter she should buy or lease the car.
You are going to retire in 40 years. After retirement, you need $80,000 at the end of year for 25 years. How much do you have to save for your retirement every month? Assume that you deposit your money at the end of month for 40 years and 8 percent i..
An investor purchases a mutual fund share for $100. The fund pays dividends of $6, distributes a capital gain of $7, and charges a fee of $5 when the fund is sold one year later for $105. What is the net rate of return from this investment?
The market rate of return is 10.8 percent and the risk-free rate is 4.45 percent. Galaxy Co. has 17 percent more systematic risk than the overall market and has a dividend growth rate of 5.5 percent. The firm's stock is currently selling for $39 a sh..
Find the amount to which $500 will grow under each of these conditions: 12% compounded annually for 5 years. 12% compounded quarterly for 5 years.
Tangshan Industries has issued a bond which has a $1,000 par value and a 13 percent annual coupon interest rate. The bond will mature in ten years and currently sells for $1,250. Using this information, the yield to maturity on the Tangshan Industrie..
Three Corners Markets paid an annual dividend of $1.37 a share last month. Today, the company announced that future dividends will be increasing by 2.8 percent annually. If you require a return of 11.6 percent, how much are you willing to pay to purc..
A five-year, $2000.00 note bearing interest at 10% compounded annually was discounted at 12% compounded semi-annually yielding proceeds of $1900.00. How many months before the due date was the note discounted?
Based on the corporate valuation model, Morgan Inc.’s total corporate value is $300 million. The balance sheet shows $90 million of notes payable, $30 million of long-term debt, $40 million of preferred stock, and $100 million of common equity. The c..
Consider the following data: 34 51 19 23 47 45 37 49 25 17 51 30 37 46 39 36 12 47 40 31 26 47 14 41 22 39 15 16 (a) Find the number of classes needed to construct a histogram. Number of classes (b) Find the class length.
Why is NPV considered a superior method of evaluating the cash flows from a project? Suppose the NPV for a project's cash flows is computed to be $2,500. What does this number represent with respect to the firm's shareholders?
Crosby Industries has a debt-equity ratio of 1.7. Its WACC is 11 percent, and its cost of debt is 8 percent. There is no corporate tax. What would the cost of equity be if the debt-equity ratio were 2? What would the cost of equity be if the debt-equ..
You have a stock market portfolio with a beta of 1.15 that is currently worth $300 million. You wish to hedge against a decline using index options. Suppose you decide to use SPX calls. Calculate the number of contracts needed if the call option you ..
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