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The state of Florida sold a total of $36.1 million worth of lottery tickets at $1 each during the first week of January 2007. As prize money, a total of $41 million will be distributed over the next 21 years ($1,952,381 at the beginning of each year). The distribution of the first-year prize money occurs now, and the remaining lottery proceeds are put into the state’s educational reserve funds, which earn interest at the rate of 6% compounded annually. After the last prize distribution has been made (at the beginning of year 21), how much will be left over the reserve account?
"Mary and Nick Stalcheck have an investment portfolio containing 4 investments. It was developed to provide them with a balance between current income and capital appreciation. Calculate the holding period return on a before-tax basis for each of the..
If the firm could reduce the average age of its inventory from 73 days, to 63 day, by how much would it reduce its dollar investment in working capital?
Does Medicaid's medically needy category make sense to you? Why or why not? For example, is it a good idea to discount medical expenses so high-need individuals can access healthcare through Medicaid?
Explain and list the costs differences airline face between a) establishing a new codeshare with another airline b) instead creating their own mini hubs around the world.
Bennington Industrial Machines issued 142,000 zero coupon bonds seven years ago. The bonds originally had 30 years to maturity with a yield to maturity of 7.2 percent. If the company has a $45.7 million market value of equity, what weight should it u..
If you want to buy a six (6) year STRIP quoted at BID 90.490, ASK 90.544, to earn a yield of 5%, what price per $100 of face value (without commission or transfer fees) would you pay? 5. If the same STRIP was available to you for $735.00 per $100 of ..
The 2000s witness a dramatic increase in Financial Engineering that produced a wide range of new loans and investment products. What is Financial Engineering? Provide example of consumer loan products and investment securities.
The McGregor Whisky Company is proposing to market diet scotch. The product will first be test-marketed for two years in southern California at an initial cost of $500,000. This test launch is not expected to produce any profits but should reveal con..
You Just purchased a bond that matures in 5 years. The bond has a face value of $1,000 and has an 8% annual coupon. The bond has a current yield of 8.21%. What is the bond’s yield to maturity?
Suppose that you barrow $17,000 at 15% compounded monthly over four years. Knowing that the 15% represents the market interest rate, you realize that the monthly payment in actual dollars will be $473.12. If the average monthly general inflation rate..
How can a portfolio/financial manager use beta to manage a portfolio? (Give examples of different type of strategies)
Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 13.92%, with interest paid monthly, what is the card's EFF%? State your answer as a percentage to 2 d..
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