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Suppose that you are currently making monthly payments on a $200,000 30-year mortgage at 6% interest compounded monthly. For the last 7 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 25year mortgage that has an interest rate of 5.9% compounded monthly. Note that the lender of the new loan has a closing cost fee of$1, 300 (for title insurance, home appraisal costs, etc.) for the new (refinanced) mortgage. The lender stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money, in interest, if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money.
The current stock price of Alpha airlines is $80. If Alpha issues equity, Alpha’s management anticipates that the market will react negatively and that Alpha will only be able to sell the new shares for $70 per share. If Alpha needs to finance the pu..
Cache Creek Manufacturing Company is expected to pay a dividend of $3 in the upcoming year. Dividends are expected to grow at the rate of 6% per year. The risk-free rate of return is 4%, and the expected return on the market portfolio is 10%. The sto..
Kahn Inc. has target capital structure of 60% common equity and 40% debt to fund its $10 billion in operating assets. What is the company expected growth rate?
create scenarios for each financing alternative and prepare reports that Granite City Books bank ad management can use to compare the various financing alternatives. Complete the following.
The Evanec Company's next expected dividend, D1, is $2.97; its growth rate is 4%; and its common stock now sells for $32. New stock (external equity) can be sold to net $28.80 per share. What is Evanec's cost of retained earnings, rs? What is Evanec'..
Credit purchases will be paid in the month following the purchase. complete the following cash budget
Assume that a firm pays taxes on revenue and is allowed some deductions. What is the impact of the tax on the firm's desired level of capital in the last case?
Fifteen years ago, Roop Industries sold $400 million of convertible bonds. The bonds had a 40-year maturity, a 5.75% coupon rate, and paid interest annually. They were sold at their $1,000 par value. What is the current value if a bond holder convert..
You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $3,500 per year, starting one year from now. You will make 4 deposits in an account that pays 5.7% interest. Under these assumptions, how much wil..
A certain area can be irrigated by piping water from a nearby river. Two competing installations are being considered, for which the following engineering and cost data apply : On the basis of a 10-year life with an interest rate of 12%, determine th..
Suppose a forecasting service predicts that the one-year interest rate four years from now will be 5.00%.Based on this forecast, ascertain what the five-year spot yield must be if bond prices permit no arbitrage
Which of the following risk types can be diversified by adding stocks to a portfolio?
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