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A new six speed automatic transmission for automobiles offers an estimated 4% improvement in fuel economy compared to traditional four speed transmissions. If a four speed transmission car averages 30 MPG and gasoline costs $4.00 per gallon, how much extra cost can a motorist pay for a fuel efficient six speed transmission? Assume that the car will be driven for 120,000 miles over its lifetime for 10 years. The motorist can earn 6% per year on investments. The motorist can pay for a fuel efficient six speed transmission extra $_________. The answer is $453.00, I just need to know how they got there...
Suppose you deposit $20,000 at the end of each of the next 30 years into a retirement account. Immediately after your last deposit, you take the entire accumulated value in your account and purchase a 20-year annuity, which will pay you X at the begi..
The key variables in the owner wealth maximization process are _____
Outdoor Sports is considering adding a miniature golf course to its facility. The course would cost $138,000, would be depreciated on a straight line basis over its 5-year life, and would have a zero salvage value. The project will require $3,000 of ..
What is the yield to maturity of a 23 year bond that pays a coupon rate of 8.25% per year and has $1,000 par value and is currently priced at $1,298.05. Assume semi-annual coupon payments. Round the answer to two decimal places in percentage form.
Describe the axioms of utility, what is the expected utility of wealth from taking the gamble and what is the Certainty Equivalent Wealth?
A man plans to work for 25 years and to make deposits into a retirement fund at the amount of 100 at the end of year month. The fund earns 6% nominal, converted monthly. The fund will be used to purchase a 20- year annuity-certain in retirement. Assu..
Company JUK has a ROE of 25% and the company will not pay any dividend for the next 3 years. It is estimated that the company will pay $2 dividend per share after three years and then to level off to 5% per year forever. What is your estimate of the ..
Suppose you are buying your first house for $400,000 with 20% down payment. You have arranged to finance the remaining amount with a 30-year, monthly payment, amortized mortgage at nominal annual rate of 3.6%. What is the monthly mortgage payment?
LD Electronics Co. is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next three years, with the growth rate falling off to a constant 6 percent thereafter. If the equity cost of capital is 11 percent, and the company ..
A7X Corp. just paid a dividend of $1.20 per share. The dividends are expected to grow at 15 percent for the next eight years and then level off to a growth rate of 5 percent indefinitely. If the required return is 10 percent, what is the price of the..
Sophia purchased a variable annuity contract with $50,000 purchase payment. Surrender charges begin with 7 percent in the first year and decline by 2 percent each year. In addition, Sophia can withdraw 10 percent of her contract value each year witho..
Boyd Company sold a futures contract (one) on Treasury bonds that specified a price of 93-00. When the position was closed out, the price of the Treasury bond futures contract was 94-20. Did interest rates increase or decrease? How do you know? What ..
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