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A borrower is faced with choosing between two loans. Loan A is available for $75,000 at 10% MEY for 30 years, with 6 points included in the closing costs. Loan B would be made for the same amount, but for 11% MEY for 30 years, with 2 points included in the closing costs. Both loans would be fully amortizing.
A. If the loan is to be repaid after 15 years, which is the better choice?
B. If the loan is repaid after 5 years, which is the better choice?
The current interest rate on this type of bond is 11.04 percent, compounded annually. What is the current price of the bond?
Dora purchases a ten-year decreasing annuity-immediate, with annual payments of 10,9,8,....,1. Diego purchases a perpetuity-immediate with annual payments 1 in year 1, 2 in year 2, 3 in year 3,.... , and 11 in year 11. After year 11, the payments rem..
If the Treasury and corporate bonds have a par value of $1,000 and the municipal bond has par value of $5,000, what is the price of these three bonds in dollars
which will be immunized against interest rate changes over a horizon of 10 years, how much must be invested in each of the two bonds?
Meister Cheese Company is considering an investment in new equipment that costs $20,740,000. It will be used for 4 years and qualifies as seven-year MACRS property. What will the book value of this equipment be at the end of four years?
Hastings Entertainment has a beta of 0.72. If the market return is expected to be 17.40 percent and the risk-free rate is 6.40 percent, what is Hastings’ required return?
The Diversified Growth Co. has three different divisions. Its low-risk division accounts for $5 million of its assets and has a beta of 0.8. Its middle-risk division accounts for $10 million of its assets and has a beta of 1.1, while its high-risk di..
From the investor's point of view, analyze the advantages and disadvantages of the three investment alternatives—common stock, bonds, and preferred stock. Why would an investor select an investment in bonds over common stock, even if the return on th..
Mackey Motors will return a 40% return in a boom economy, a 10% return in a normal economy, and - 25% return in a recession. If there is a 30% chance of a boom economy, 50% chance of normal growth, and 20% chance of a recession, what’s the standard d..
For years, Hayhoe says she has lived "paycheck to paycheck".
Mark and Alicia Story, recently married, have decided that they want to buy a $600,000 house. They are planning to give 20% down payment and finance the rest with a mortgage. Mark and Alicia are now ready to meet with Chris Vaughan, the loan officer ..
A reverse annuity mortgage is made with a balance not to exceed $300,000 on a property now valued at $700,000. The loan calls for monthly payments to be made to the borrower for 120 months at an interest rate of 11% MEY. No payments are made thereaft..
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