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Brandi just received her credit card bill, which has an outstanding balance equal to $3,310. After reviewing her financial position, Brandi has concluded that she cannot pay the outstanding balance in full; rather she has to make payments over time to repay the credit card bill. After thinking about it, Brandi decided to cut up her credit card. Now she wants to determine how long it will take to pay off the outstanding balance. The credit card carries an 18 percent interest rate, which is compounded monthly. The minimum payment that Brandi must make each month is $25. Assume that the only charge Brandi incurs from month to month is the interest that must be paid on the remaining outstanding balance. Brandi plans to mail a payment tomorrow. If Brandi pays $150 each month, how long will it take her to pay off the credit card bill?
Stacie wants to buy a new car. She has the option of buying the car for $35,000 with no money down and 1% financing for three years or get a cash discount of $4,000. She car get financing at the local bank for 4% per year. Compute her total expenses ..
The Amazing Video Co. has just paid an annual dividend of 40 cents. You forecast that for the next five years dividends will grow at the rate of 25% a year over the period. Draw the time line showing the dividends per share of this stock for years 1 ..
Dana reports Inventory of $2,596,867, Cash of $1,228,073, COGS of $8,086,302, and Accounts Receivable of $2,359,372. Its benchmark peer group turns its inventory 7.7 times a year. What would Dana's new inventory level be if it experienced the same nu..
A company is expected to have a price per share of $7.80. If the company s preferred stock pays a dividend of $2.00 per year and has a required return of 5% what is the preferred stock s current price?
If the error resulted from Mr. Stanhope's intentional disregard of a tax rule, compute the negligence penalty. Should the fact of Mr. Stanhope's education and business experience in sequence the agent's decision to impose the negligence penalty?
On the London Metals Exchange the price for copper to be delivered in one year is $3,530 a ton. (Note: Payment is made when the copper is delivered.) The risk-free interest rate is 0.58% and the expected market return is 8%. What is the certainty-equ..
_____11. An interest rate swap to synthetically convert fixed rate interest on a stock investment into floating rate interest.
What is the present value of purchasing the car? What is the present value of leasing the car? What break-even resale price in four years would make you indifferent between buying and leasing?
The primary goal of corporate financial management is to maximize the:
Joshua Industries is considering a new project with cash inflows of $478,000 for the indefinite future. Cash costs are 68 percent of the cash inflows. The initial cost of the investment is $685,000. The tax rate is 34 percent and the unlevered cost o..
Calculate the times interest earned ratio for next year assuming the firm raises $40 million of new debt at an interest rate of %6 Calculate the times burden covered ratio for next year assuming annual sinking fund payments on the new debt will equa..
Firm considers project which requires an immediate investment of $100, and generates after tax cashflows in the amount of $40 at the end of each of the next four years. In addition, the firm will have to spend an additional $30 (after tax) at the end..
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