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A new employee charged $5140 on his credit card to relocate for his first job. After noticing that the interest rate for his balance was 24% compounded monthly, he stopped charging on that account. He wishes to pay off his balance in 2 years using automatic payments sent at the end of each month.
a) What monthly payment must he make to pay off the account at the end of 2 years?
b) How much total interest will he have paid?
A stock is trading at $80 per share. The stock is expected to have a year-end dividend of $3 per share (D1 = $3), and it is expected to grow at some constant rate g throughout time. The stock's required rate of return is 10% (assume the market is in ..
Joe Brown and Fred Anthony are planning to invest in a Go Green project. Calculate the market value of Renowned Cola's debt
I want to have $1,000,000 at the end of 1 year, $1,000,000 at the end of 2 years, and $1,000,000 at the end of 3 years. If the interest rate is 5.2%, I need to invest $ now to achieve these payouts.
Ms. Early Saver has decided to invest $1,000 at the end of each year for the next 10 years, then she will just let the amount compound for 40 additional years. Her brother, Late Saver, has a different investment program: He will invest nothing for th..
Bond J is a 5 percent coupon bond. Bond K is a 11 percent coupon bond. Both bonds have 13 years to maturity, make semiannual payments, and have a YTM of 8 percent. If interest rates suddenly rise by 2 percent, what is the percentage price change of t..
Suppose you have the choice of investing in (A) a zero-coupon bond, which costs $500 today, pays no coupon during its life, compounds semi-annually, and then pays $1,000 after 10 years, or (B) a bond which costs $1,100 today, pays $45 in interest sem..
Which mutually exclusive project should be selected, based on a 12% cost of capital and the following: IRR(A)= 15%, IRR(B)= 13%; incremental IRR(B-A)= 18%? Why?
An all-equity firm is considering the following projects: Which projects have a higher expected return than the firm's 11% cost of capital? Which projects should be accepted? Which projects would be incorrectly accepted or rejected if the firm's over..
App Store Co. issued 16-year bonds one year ago at a coupon rate of 7.7 percent. The bonds make semi-annual payments. If the YTM on these bonds is 5.4 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer..
A stock is expected to pay a dividend of $0.75 at the end of the year. The required rate of return is 12.5%, and the expected constant growth rate is g = 8.5%. What is its current price?
You would like to have $43,440for the down payment on a house you plan to buy five years after you graduate. If your investments earn 3.3% APR compounded monthly, how much do you have to invest each month, starting next month, to meet your investment..
Robert wants to withdraw $100,000 a year for 30 years after he retires. He will probably work for 30 years and earn 7 interest during the whole time. How much does Robert have to contribute to her pension fund each year so she can retire on $100,000 ..
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