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Simon recently received a credit card with an 16% nominal interest rate. With the card, he purchased a new stereo for $490.00. The minimum payment on the card is only $20 per month.
a. If he makes the minimum monthly payment and makes no other charges, how many months before he pays off the card? Round to the nearest month.
b. If he makes monthly payments of $60, how many months before he pays off the debt? Round to the nearest month.
c. How much more in total payments will he make under the $20-a-month plan than under the $60-a-month plan. Make sure to use 3 decimal places for N. Round your answer to the nearest cent.
What was the firm’s cash flow to creditors during 2015? What was the firm’s 2015 operating cash flow, or OCF?
If you do NOT have the option to make a portfolio, which asset you pick? Explain why in two lines max. You call P2 optimal risky portfolio or tangency portfolio
Scanlin, Inc., is considering a project that will result in initial aftertax cash savings of $1.87 million at the end of the first year, and these savings will grow at a rate of 1 percent per year indefinitely. The firm has a target debt–equity ratio..
A borrower secures a $300,000, 15-year adjustable rate mortgage (ARM) with an initial interest rate of 2%. Payments are monthly. The interest rate will reset in two years and remain at that level for the remainder of the mortgage. Assume a reset rate..
A company sells 157,441 units per year. Fixed costs per order are $125 and carrying cost is $28 per unit per year. If management uses an EOQ model, how many orders will it place per year?
how much will your collection be worth when you retire in 2066, assuming they appreciate at an annual rate of 4.7 percent?
Essence of Skunk Fragrances, Ltd., sells 6,500 units of its perfume collection each year at a price per unit of $395. All sales are on credit with terms of 1/30, net 30. The discount is taken by 50 percent of the customers. What is the amount of the ..
Suppose the rate of return on 3-month T-Bill is 4%. Suppose also that the expected rate of return required by the market for a portfolio with a beta of 0.8 is 12%. According to the capital asset pricing model: What is the expected rate of return on a..
Discuss the following statement: All else equal, firms with relatively stable sales are able to carry relatively high debt ratios. Is this statement true or false? Why? Why is EBIT generally considered independent of financial leverage? Why might EBI..
Suppose you invest $5,000 in Stock A and $5,000 in Stock B. The variance of Stock A is 50 percent, the variance of Stock B is also 50 percent, and the covariance between the two stocks is 0 percent. What is the standard deviation of your portfolio (i..
Use Hoover’s database to access the components of the DuPont Equation: ROE = PM*TAT*EM for Wal-MART (Ticker:WMT). Compare Wal-Mart’s components to similar Industry ratio or peer ratios (a Wal-Mart competitor) for the current year. Hoover’s also provi..
Stock A's beta is 1.7 and Stock B's beta is 0.7. Which of the following statements must be true about these securities? (Assume market equilibrium.)
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