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Suppose you take out a 30 year mortgage for $ 175000 at 9% interest. The monthly payments on this loan are $ 1408.09.
If you pay an extra 10% per month on your mortgage, how soon will you pay off the loan?
New length in years =
How much will you save in interest by making the extra payments?
Saving =
If you put $ 1408.09 per month into an annuity earning 10.25% interest compounded monthly for the remaining time on your original loan, how much money will you have at the end of the original 30 years?
Extra savings =
Assume that futures on 50 bushels of wheat have an initial margin requirement of $12 per contract and a maintenance margin requirement of $7 per contract. Consider also a buyer and seller of 100 contracts for wheat futures initiated in period 0 and s..
Suppose we are assuming a $5 million 20-year mortgage with 8 years remaining at a rate of 4%. If we could obtain a new 8-year mortgage for 5%, what is the value of assuming this mortgage?
The date of death for a widow was 2012. If the estate was valued at $7,100,000 and the estate was taxed at 35 percent. What was the heir’s tax liability? (Round your answer to the nearest dollar amount)
Some advocates of behavioural finance agree with efficient market advocates that indexing is the optimal investment strategy for most investors. But their reasons for this conclusion differ greatly. Compare and contrast the rationale for indexing acc..
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Large Industries bonds sell for $1,071.08. The bond life is 9 years, and the yield to maturity is 5.0%. What must be the coupon rate on the bonds? Assume coupons are paid once a year and the face value is $1,000.
Consider an American call option when the stock price is $19, the exercise price is $21, the time to maturity is 6 months, the volatility is 25% per annum, and the risk-free interest rate is 10% per annum. Two equal dividends are expected during the ..
Briefly discuss the various types of international banking offices. How does the deposit-loan rate spread in the Eurodollar market compare with the deposit-loan rate spread in the domestic U.S. banking system? Why?
The price of a European put that expires in eight months and has a strike price of $50 is $3. The underlying stock price is $53, and a dividend of $1 is expected in three months and again in six months. Explain the arbitrage opportunity in the above ..
A portfolio is invested 23 percent in Stock G, 38 percent in Stock J, and 39 percent in Stock K. The expected returns on these stocks are 10 percent, 12.5 percent, and 17.9 percent, respectively. What is the portfolio’s expected return?
Yan Yan Corp. has a $2,000 par value bond outstanding with a coupon rate of 4.9 percent paid semiannually and 23 years to maturity. The yield to maturity on this bond is 4.3 percent. What is the price of the bond?
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