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Jon Hamm would like to establish a fund for cancer research at St. Jude Children’s Research Hospital in downtown Memphis, Tennessee. Researchers at the hospital have informed Jon that they would like to receive an additional $5M per year to help them find a cure. Jon has agreed to deposit $8.5M now into a fund that pays interest at 5% per year. He will also deposit $7M into the fund five years from now. Eight years from now, Jon will make a deposit $5M into the fund and he will continue to deposit money until the fund can support $5M perpetual withdrawals from the fund. Researchers would like to begin withdrawing $5M per year from the 2 fund twenty years from now. Compute the number of years (to two decimal places) that Jon will have to make the $5M donations in order for the researchers and Jon to meet their financial objective.
Assume that the risk-free rate is 5% and the market risk premium is 7%. What is the expected return for the overall stock market?
A 20-year annuity immediate with annual payments is calculated at 6.2%. The first payment is 500 and increases at 4% annually. Find the present value of this annuity.
Union Local School District has bonds outstanding with a coupon rate of 5.1 percent paid semiannually and 18 years to maturity. The yield to maturity on these bonds is 4.6 percent and the bonds have a par value of $10,000. What is the dollar price of..
Determine the theoretical futures price ($ per ounce) for the January 2018 Platinum futures contract using procedures discussed in class.
Compute the present value of a perpetuity that pays $791.13 annually, with the first cash flow occurring today,
Polycom Systems earned $551 million last year and paid out 22 percent of earnings in dividends. By how much did the company’s retained earnings increase?
Stephen Fredrick, a pilot for Simmons Airlines Corp., criticized the safety of the aircraft that Simmons used on many of its flights and warned the airline about possible safety problems. SAC took no action. After one of the planes crashed, Fredrick ..
You've worked out a line of credit arrangement that allows you to borrow up to $40 million at any time. The interest rate is .56 percent per month. In addition, 4 percent of the amount that you borrow must be deposited in a non-interest-bearing accou..
A call with a strike price of $70 costs $7.71. A put with the same strike price and expiration date costs $4.39. If you create a straddle, what is the initial cash flow? If it's a cash outflow, answer in a negative number.
A Wall Street firm is planning its strategy for next week (Monday through Friday). In particular, they are interested in day trading a particular stock. The firm plans to observe the price of the stock at 15 minute intervals each day, starting at 9:3..
Ares, Inc, has purchased a brand new machine to produce its High Flight line of shoes. The machine has an economic life of five years. The depreciation schedule for the machine is straight-line and there is no anticipated salvage value. Assume that t..
Determine the fixed rate on the swap.- Calculate the first net payment on the swap.- Calculate the value of the swap.
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