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Consider the purchase of your first house. Say it costs $100,000. You plan to put 20% down to avoid the extra fees associated with PMI (private mortgage insurance). Your finance the remaining 80% through your bank with a 30 year loan at 6%.
a) What is your monthly payment?
b) After 2 years (24 payments), interest rates go down. How much do you need to refinance to pay off the original loan? In other words, what is the balance of your original loan after the 24th payment?
c) Independent of your answer in ‘b,’ assume you still wish to refinance 80% of the original $100,000. You can either pay the re-financing fees totaling $1,200 and get a 30 year 5% loan, or pay an additional 1% of your loan (plus the $1,200 refinancing fees) and get a rate of 4.625%. What is the payback period for each of these options, relative to not financing?
What is the effective annual rate you'll actually be paying? What is the amount of the current assets?
What will the marginal cost of capital be immediately after that point?
More and more of the back office tasks for commodity traders and market makers can be easily automated which lowers the costs of making transactions. What is the effect of these technical changes on the bid-ask spreads between commodity buyers and se..
The current Swiss franc to U.S. dollar spot exchange rate is SFr1.60/$. The expected inflation over the coming year is 2 percent in Switzerland and 5 percent in the United states. According to purchasing power parity, what is the expected value of th..
What is the value of your investment after two years? Multiply your answer to part a by 1.12.
Aerco Company acquired equipment in exchange for $50,000 in common stock. Should this transaction be on the statement of cash flows?
How much of the sale price will be subject to long term capital gain treatment? What amount was subject to ordinary income at the date the stock was distributed
What is Heavy Rain’s cost of retained earnings using the Gordon Model (DDM) approach?
What is the sensitivity of your plan's market value to changes in the market interest rate?
A bond has a coupon rate of 9 percent and 5 years until maturity. If the yield to maturity is 8.4 percent, what is the price of the bond?
Suppose that the exchange rate is 0.80 dollars per Swiss franc. If the franc appreciated 9% against the dollar, how many francs would a dollar buy tomorrow?
Both calculations are based on an effective annual interest rate of i.
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