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1. Suppose you are interested in taking a mortgage loan for $250,000 in order to purchase your principal residence. Your lender has suggested that you might be interested in taking an FHA loan. In order to do so, you must pay an additional up-front mortgage insurance premium (UFMIP) of 1.0% of the mortgage balance. If the interest rate on the fully-amortizing mortgage loan is 5% and the term is 30 years, what is your monthly mortgage payment assuming the UFMIP is financed?
A. $1,342.05
B. $1,355.47
C. $1,498.88
D. $2,500
2. Suppose that you are in the process of deciding whether or not to refinance your fixed rate mortgage at a lower rate and you are interested in using the payback period rule of thumb to help you in your decision. Your lender has informed you that the cost of refinancing would be $4,300. If your original monthly mortgage payment was $1,250 and your new monthly mortgage payment would be $1,150 after refinancing, determine the payback period.
A. 3 months
B. 4 months
C. 43 months
D. 158 months
Debt Management Ratios Calculate the times interest earned ratio for Linda's Hats, Inc. using the following information: sales = $50,000,000, cost of goods sold = $15,000,000, depreciation expense = $2,000,000, addition to retained earnings = $10,000..
The required return on the firm’s assets is 11.1% and the pre-tax cost of debt is 4.1%. Ignore taxes. What is the firm’s cost of equity?
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Valdes Enterprises is considering issuing a 10-year convertible bond that would be priced at its $1,000 par value. The bonds would have an 8.00% annual coupon, and each bond could be converted into 30 shares of common stock. What is the estimated flo..
what is the market-to-book ratio for Chisel Corporation?
Erie Health Care common stock offers an expected total return. What is the dividend yield?
Assume an organization’s debt-to-equity ratio is less than 1.0. Which of the following statements is most correct?
King’s Department Store is contemplating the purchase of a new machine at a cost of $22,802. The machine will provide $3,500 per year in cash flow for nine years. King’s has a cost of capital of 10 percent. Using the internal rate of return method, e..
Bond interest payments before and after taxes Charter Corp. has issued 1 comma 8461,846 debentures with a total principal value of ?$1 comma 846 comma 0001,846,000. The bonds have a coupon interest rate of 99?%. What dollar amount of interest per bon..
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"Assume that Monsanto s last dividend (paid yesterday) was $3.20 per share. According to the Dividend Discount Model, what should be the price of this stock?"
With which of the following statements would most people in business agree?
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