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Magnus Credit Corp. wants to earn an effective annual return on its consumer loans of 15.25 percent per year. The bank uses daily compounding on its loans.
Required:
What interest rate is the bank required by law to report to potential borrowers? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Use 365 days in a year. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
You have been offered the opportunity to invest in a project that will pay $1,532 per year at the end of the years one through three and $11,071 per year at the end of years 4 and 5. If the appropriate discount rate is 18.88 percent per year, what is..
Consider the following capital market: a risk-free asset yielding 0.75% per year and a mutual fund consisting of 70% stocks and 30% bonds. The expected return on stocks is 10.75% per year and the expected return on bonds is 3.25% per year. The standa..
What is the yield to maturity of a 23-year bond that pays a coupon rate of 8.25% a year, has a $1K par value, and is currently priced at $1, 298.05? Assume semi-annual coupon payments.
Las Paletas Corporation has two different bonds currently outstanding. Bond M has a face value of $50,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $1,600 every six months over the subsequent eight years, ..
What is the maximum it would be reasonable ( i.e., do no financial harm) for the owner of a building to pay for a new heated drive way system if it would save $1,500 per year in ploughing charges. The owner's cost of money is 15%/yr. Assume the syste..
My small business recently sent an invoice for consulting fees, of $8,000 to a client company on Dec 20, 2012. The terms were 2/10, 1.5/15, 1/30, n/60. The client sent a partial payment of $2,500.00 on January 5, 2013. What is the remaining balance?
Assume that manager of a business are setting the price on a new service. Relevant data estimates: variable cost per visit: $5.00, Annual direct fixed costs: $500,000, Annually overhead allocation: $50,000, Expected annual utilization 10,000 visits i..
What is the accumulated sum of the following stream of payments? $21,509 every year at the beginning of the year for 15 years, at 7.84 percent compounded annually.
We have a real listing for an auction of a commercial property. It is 100% occupied and is 4,000 square feet with 500 additional square feet that can be finished in the attic. The property generates $5,112 a month and has 7 total units.
Volbeat Corporation has bonds on the market with 15.5 years to maturity, a YTM of 10.4 percent, and a current price of $944. The bonds make semi-annual payments.
Calculate with explanation the unit costs of the souvenirs. You should state your assumption, if any and determine the priceof the souvenirs and explain any other information that might be relevant for deciding the price
Red, Inc., Yellow Corp., and Blue Company each will pay a dividend of $3.30 next year. The growth rate in dividends for all three companies is 5 percent. The required return for each company’s stock is 7 percent, 10 percent, and 13 percent, respectiv..
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