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A father is now planning a savings program to put his daughter through college. She is 13, plans to enroll at the university in 5 years, and she should graduate 4 years later. Currently, the annual cost (for everything - food, clothing, tuition, books, transportation, and so forth) is $19,000, but these costs are expected to increase by 6% annually. The college requires total payment at the start of the year. She now has $6,000 in a college savings account that pays 8% annually. Her father will make six equal annual deposits into her account; the first deposit today and sixth on the day she starts college. How large must each of the six payments be? Do not round intermediate calculations. Round your answer to the nearest dollar. [Hint: Calculate the cost (inflated at 6%) for each year of college and find the total present value of those costs, discounted at 8%, as of the day she enters college. Then find the compounded value of her initial $6,000 on that same day. The difference between the PV of costs and the amount that would be in the savings account must be made up by the father's deposits, so find the six equal payments that will compound to the required amount.] $
What is the value today of a 15-year annuity that pays $600 a year? The annuity’s first payment occurs six years from today. The annual interest rate is 11 percent for Years 1 through 5, and 13 percent thereafter.
You would like to hedge your accounts payable due one-year from now of Indian Rupees (IR) 10 million in the Futures market. But there are no Futures contract available on Indian Rupees. However, Futures contract on Singapore dollar (S$) and Hong Kong..
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A corporation is going to have to pay a debt of 1200000 after one year, a debt of 1500000 after 2 years, and 2000000 after 3 years. The spot rates are s1=5%, s2=4%, and s3=3%. Find the amount the corporation will have to invest now in each of these b..
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what is the dollar amount of the interest portion of his payment?
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Collect annual data on 1-year T-security rate (nominal rate of interest). Using the inflation rate data in #1, compute the "real rate of interest" for each year. (Hint: Fisher equation)
Rolston Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $26,600, and the company expects to sell 1,510 per year. The company currently sells 2,010 units of its existing model per year..
What is the average inventory held during the year including safety stock if the store insists on a 3 days safety stock (assume 365 days a year)?
You purchase a bond with a coupon rate of 9 percent and a clean price of $875. If the next semiannual coupon payment is due in two months, what is the invoice price?
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