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The price of the used car is $23,500. Sales tax on this car is 7% of the price of the vehicle. You intend to finance the entire cost of the car and sales tax, less a down payment of $1,200. You intend to finance the car for 48 months and your car payment will be $551.44 per month.
Your essay should in include the following information
Calculate and discuss the amount financed, the installment price of the new car, and the finance charges you will pay over the life of the loan.
Compare and contrast the advantage of paying cash and financing the vehicle over a shorter period of time, as well as, the impact of finding lower interest rates.
Research and discuss the advantages of having good credit versus poor credit when qualifying for a loan. Discuss the implications of your credit score on the interest rates you may qualify for.
How much will you have left over each half year if you adopt the latter course of action?
Explain why purchasing a high-growth mutual fund can be a worse investment than taking out a second mortgage on a home and investing in the market index.
You have been given the expected return data shown in the first table on three assets -F, G, and H- over the period 2016-2019. Expected return. Calculate the expected return over the 4-year period for each of the three alternatives. Calculate the sta..
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Describe the relationship between changes in the rate of taxation and the weighted average cost of capital and calculate the net present value (NPV) of each press.
Based on the pecking-order theory of capital structure, what are the assumptions for Miller and Modigliani that have been relaxed?
If the rate of inflation is 3 percent, goods and services cost that $100 will cost how much at their retirement? How much annual income is necessary to maintain the purchasing power of their $100,000 current income?
Troy will receive $7,500 at the end of Year 2. At the end of the following two years, he will receive $9,000 and $12,500, respectively. What is the future value of these cash flows at the end of Year 5 if the interest rate is 8 percent?
A borrower is considering the following loan package for a $400,000 home purchase: First mortgage: $300,000 for 30 years at 5% interest Second Mortgage: $100,000 for 5 years at 7% interest. What is the combined interest cost (effective cost) of this ..
A broker is considering buying a dividend paying stock. The dividend will be paid at the end of the year. The analyst consensus is the stock will worth $36 in one year. The company pays a $2.25 annual dividend and the broker expects 12% rate of retur..
A semi annual coupon bond with face value of $1000 has a coupon rate of 8% and matures in 12 years. The market-determined discount rate on this bond is 9%. What is the price of the bond? Round to the penny. What is the coupon rate of a bond with a fa..
Suppose the market portfolio's excess return tends to increase by 30% when the economy is strong and decline by 20% when the economy is weak. What is the Beta for a type S firm? What is an efficient portfolio? Explain why the risk premium of a stock ..
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