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Please answer BOTH of the following questions and show me how you got to the answer:
1. You currently owe $26,000 on a car loan at 4.25 percent interest. If you make monthly payments of $596.59 per month, how long (i.e., number of months rounded to one decimal place) will it take you to fully repay the loan? Please round to the nearest tenth (one decimal) place.
2. You have a $25,000 balance on your credit card. You plan to make monthly payments of $450 until the balance is paid off. The interest rate on your credit card is 17.5% p.a., compounded monthly. A letter in the mail informs you that you are approved for a new credit card and balance transfers are subject to a 9.5% p.a., compounded monthly. How many months sooner will you pay off your bill?
Drugs 'R Us operates a mail-order pharmaceutical business on the West Coast. The firm receives an average of $642,000 in payments per day. On average, it takes 7 days for the firm to receive payment, from the time customers mail their checks to the t..
Gladstone Corporation is about to launch a new product. Depending on the success of the new product, Gladstone may have one of four values next year: $150 million, $135 million, $95 million, or $80 million. What is the initial value of Gladstone’s eq..
You have an opportunity to exchange your security with the security of your colleague. Would you make the exchange?
Krystal Magee invested $150,000 18 months ago. Currently, the investment is worth $179,422. Krystal knows the investment has paid interest every month, but she doesn't know what the yield on her investment is. Help Krystal. Compute both the annual pe..
An asset used in a four-year project falls in the five-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $8,500,000 and will be sold for $1,890,000 at the end of the project. If the tax rate is 30 percent, what is ..
Suppose the real risk-free rate is 3.50% and the future rate of inflation is expected to be constant at 2.25%.
Assume all assets and current liabilities change spontaneously with sales and the firm is currently operating at full capacity.
Identify which currencies have gained in value against the US dollar (USD) over the previous year. Explain your selection - Calculate the cross exchange rate between British Pounds (GBP) and Roubles (RUB).
You are purchasing a house for $95,000. The lender requires a 10% down payment, and will finance the rest with a 30 year fixed rate mortgage with monthly payments at 9 7/8% (interest rate is 9.875) with two discount points charged. Calculate the bal..
The annualized, continuously compounded risk free rate is 0.5% for 4 months, 1% for 10 months and 2% for 15 months.Find arbitrage trade-profit from your trade?
Jesse Corp.'s stock has a Beta of 1.15. The risk-free rate is 6%, and the expected market return is 11%. The firm's cost of common equity, Re, is _____%. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round ..
Calculate the loan term in years and amortization schedule and ending balance given the following information.
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