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The annual Central African CFA franc (XAF) interest rate in Gabon is 4% (s.a.), while the annual USD interest rate is 2% (s.a.). Houseman Bank (HB) entered into a currency swap where it receives 3% semiannual in USD and pays 6% semi-annual in XAF. The principals in the two currencies are USD 5 million and XAF 2500 million. Principals are exchanged at maturity. The swap will last for another 12 months (2 payments left). The exchange rate is .002 USD/XAF. For simplicity, assume the term structure in Gabon and in the U.S. is flat. A. Draw the swap cash flows. B. Value this currency swap for HB, using the forward currency contract decomposition.. C. Suppose the Swap dealer is worried about the XAF payments and demands a 1% insurance premium - i.e., XAF interest payments are at 7%. What would be the effect of this insurance premium on the value of the swap for HB? Calculate the value of the swap.
Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit $ 1,222 in the bank and leave it there, how much interest will you earn in the tenth year? (i.e. how much does your account increase ninth year to the tenth year?)
1. What is an audit, and how does it add to the integrity of accounting information. 2. Why was the Sarbanes-Oxley legislation passed in 2002, and what are its implications for the accounting profession.
Assume you deposit $600 in an account, and that in 6 years you have $900. Assuming daily compounding frequency what is the quoted annual interest rate associated with the account?
If Sharon were risk neutral, which investments would she select? Explain why.If she were risk averse, which investments would she select? Why? If she were risk seeking, which investments would she select? Why?
Katie has a balance of $239.56. She deposits a check for $23.89 and a check for $89.06. Then Katie makes a withdrawal from the ATM for $150.00.
At the same time, the income statement shows net income of $780,000. The company paid dividends of $397,800 and has 120,000 shares of stock outstanding. If the benchmark PE ratio is 29, what is the target stock price in one year?
What is the IRR? (expressed in percent per? month) of the investment of giving up $ 70.00 today by choosing to store 20 pounds of cheese that is currently
Discuss how the interrupted time series design with a reversal and the interrupted time series design with multiple replications improve on the simple interrupted time series design.
A college's endowment has $1.25 billion in assets. If its investments earn 6% annually, whatis the annual amount of funding that the endowment can generate perpetually?
Mr. Franklin is 70 years of age, is in excellent health, pursues a simple but active lifestyle, and has no children. He has interest in a private company.
how much must you deposit in an account today so that you have a balance of 16604 at the end of 7 years if interest on
At the end of three years, the company sold the project for $62,500. What annual rate of return did the firm earn on this project?
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