Reference no: EM13753239
1. You purchase a piece of equipment for $150,000. Your company can borrow the money from a bank for five years at 6% interest. How will the monthly payments be? (HINT: do not forget the down payment or the fact that you will pay your car payment MONTHLY!) Show your calculator key strokes.
How much will the company pay in total finance charges for the piece of equipment above?
2. Griswold Electronics expects sales next year to be $3,000,000 if the economy is strong, $1,200,000 if the economy is steady, and $800,000 if the economy is weak. The Griswold's are predicting a 35% probability the economy will be strong, a 50% probability the economy will be steady and a 15% probability the economy will be weak. What is the expected level of sales for the year?
3. Mu Inc. expects sales to be $2,000,000 next year. Inventory and accounts receivable will increase by $400,000 to accommodate this sales level. The company has a steady profit margin of 12.5% with a 26% dividend payout. How much external financing will the firm have to obtain? Assume there is no increase in liabilities other than that which will occur with the external financing.
4. Rework problem 1 assuming that the collection time has been reduced by two days and disbursement time increased by three days. Also assume excess funds are beginning invested in instruments yielding 7.5 percent per annum.
5. If a company has annual sales of $5,000,000 and accounts receivable of $275,000, what is the value of the average collection period (Assume 360 days a year)
6. Compute the cost of not taking the following cash discounts:
a. 2/10, net 30
b. 3/15, net 45
7. Griz Inc. can borrow from the bank at 11.75% to take a cash discount. The terms of the cash discount are 2/10, net 60. Should the firm borrow the funds?
8. GWLD Inc is going to borrow $4,500 for 90 days and pay $127 in interest. What is the effective rate of interest if the loan is discounted?
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Expected level of sales for the year
: Griswold Electronics expects sales next year to be $3,000,000 if the economy is strong, $1,200,000 if the economy is steady, and $800,000 if the economy is weak. The Griswold's are predicting a 35% probability the economy will be strong, a 50% pro..
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