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Friendly’s Quick Loans, Inc., offers you “eight for ten or I knock on your door.” This means you get $8.00 today and repay $10.00 when you get your paycheck in one week (or else).
If you were brave enough to ask, what APR would Friendly’s say you were paying? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16)
APR=
What’s the effective annual return Friendly’s earns on this lending business? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16)
EAR=
How much must be invested to make four annual withdrawal of $20,000 each for tuition payments if you can earn 8% compounded annually on your investment and the first withdrawal will take place in one year.
A stock sells for $30 per share. You purchase 150 shares for $30 a share (i.e., for $4,500), and after a year the price rises to $37.50. What will be the percentage return on your investment if you bought the stock on margin and the margin requiremen..
Which of the following statements about capital investment analysis is most correct?
Determine your cash flow as a percent of the notional principal at each payment date under this arrangement. Assume for simplicity that each period is 180 days and that there are 360 days in the year.
Determine the net benefit to Peterson of using wire transfers.- Determine the net (pretax) benefit to Peterson of using electronic depository transfer checks.
Miller Brothers Hardware paid an annual dividend of $0.95 per share last month. Today, the company announced that future dividends will be increasing by 2.6 percent annually. If you require a 13 percent rate of return, how much are you willing to pay..
You are considering adding a new software title to those published by your highly successful software company. If you add the new product, it will use capacity on your disk duplicating machines that you had planned on using for your flagship product,..
During 2012, Raines Umbrella Corp. had sales of $630,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $470,000, $95,000, and $140,000, respectively. What is Raines’s net income for 2012? What is its operati..
A company's 8% coupon rate, semi-annual payment, $1,000 par value bond that matures in 20 years sells at a price of $593.17. The company's federal-plus-state tax rate is 30%. What is the firm's after-tax component cost of debt for purposes of calcula..
A life insurance company offers the option of receiving $500,000 as a lump-sum, or $60,000 per year over 10 years. If market interest rates are 5%, what is the present value of the annual cash payment option? Suppose market interest rates are 2.5%, w..
You have your choice of 3 investments. Investment A is a 15-year annuity that features end of month $1500 payments and has an interest rate of 5.5% compounded monthly. Investment B is a 5 percent continuously compounded lump sum investment also for 1..
Describe a situation where somebody may need a mortgage, find a specific mortgage product, and describe why the mortgage might be a good fit for the potential borrower's situation. Please take the opportunity to have fun in finance.
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