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1. In order to support your daughter's (son's) college education, you decide to save a fixed amount in a college trust fund at the end of every year for eighteen (18) years. You would like to have $120,000 in the fund eighteen (18) years from today. When the average annual rate of return on the fund is 6 percent (compounded annually), how much do you need to save at the end of each year?
A) $2,844 B) $3,883 C) $4,204 D) $11,083
2. You are taking out a $20,000 auto loan to be paid over 2.5 years in 30 equal monthly payments. Suppose the current APR is 12 percent (compounded monthly). What is the outstanding amount of the loan principal right after the first monthly payment?
A $19,225 B $19,425 C $19,625 D $19,825
You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $750,000, accounts receivable = $1,500,000, inventory = $2,000,000, accrued wages and taxes ..
Suppose Cisco Systems pays no dividends but spent $5.08 billion on share repurchases last year. If Cisco’s equity cost of capital is 12.8%, and if the amount spent on repurchases is expected to grow by 8.9% per year, estimate Cisco’s market capitaliz..
The Smith Pie Company is considering two mutually exclusive investments that would increase its capacity to make strawberry tarts. The firm uses a 12 percent cost of capital to evaluate potential investments.
Assume that you plan to buy a share of XYZ stock today and to hold it for 2 years. Your expectations are that you will not receive a dividend at the end of Year 1, but you will receive a dividend of $9.35 at the end of Year 2. In addition, you expect..
Blaster Corporation manufactures hiking boots. For the coming year, the company has budgeted the following costs for the production and sale of 30,000 pairs of boots:
A 5.85 percent coupon bond with 14 years left to maturity can be called in nine years. The call premium is one year of coupon payments. It is offered for sale at $1,167.50. What is the yield to call of the bond?
Which loan will result in a higher effective interest rate paid by the borrower?
The production of consumer electronic equipment, for example, is largely done in the Far East.
X-Tech Company issued preferred stock many years ago. It carries a fixed dividend of $14 per share. With the passage of time, yields have soared from the original 12 percent to 16 percent (yield is the same as required rate of return). a. What was th..
A7X Corp. just paid a dividend of $2.10 per share. The dividends are expected to grow at 24 percent for the next eight years and then level off to a growth rate of 6 percent indefinitely. If the required return is 13 percent, what is the price of the..
A small biotechnology research corporation has been experiencing losses for the first three years of its existence, and thus has a negative balance in retained earnings. The corporation’s stock price, however, is $1 per share. The required return on ..
The Wildcat Oil Company is trying to decide whether to lease or buy a new computer-assisted drilling system for its oil exploration business. Management has decided that it must use the system to stay competitive; it will provide $2.1 million in annu..
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