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Steve and Laurie bought a house in Edmonton exactly 5 years ago. They took out a mortgage for $400,000 at that time. The mortgage had a 25-year amortization period, monthly mortgage payments, and a quoted interest rate of 8% (APR, semi-annually compounded). Steve and Laurie recently decided to buy a new house, also in Edmonton. Today they will receive payment from the buyer of their old home and make a down payment on the new house. If the old house sold for $600,000, the new one is priced at $800,000, and the down payment on the new house equals the net proceeds from the sale of their old house, how big is their new mortgage (assuming monthly mortgage payments)? (Net proceeds = Selling price of old house less Outstanding Principal Balance on the old mortgage). If the new mortgage has a quoted interest rate of 6% and a 20-year amortization period, how big are Steve and Laurie’s new monthly payments?
A twenty-year, 5% coupon, $1,000 bond is for sale. It makes annual (once per year) interest payments. (a) What cash flow can I expect if I buy the bond? (b) If its yield to maturity is 7%, what is its price? (c) If its price is $1,080.20, what is its..
You have just been notified by the student aid and scholarships office that you would receive a regents' scholarship of $2,000 for the coming academic year. Furthermore, your application for a work-study program has also been accepted. You estimate t..
powertool is the largest us manufacturer of industrial hand tools. its sales force is strong but clients have
Which of the following was originally a defence alliance?
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics, describe the effect of each of the following in terms of whether it would increase or decrease th..
A project proposal stated that it would provide at least $20,000 in annual returns for the next 3 years but requires an initial investment of $50,000. Will its approval be worthwhile if the cost of capital is 8%? Find the net present value for a proj..
Explain the nature of groups and group behavior within organisations you identified and discuss factors that may promote or inhibit the development of effective teamwork in organisations you identified.
Interest rate of 10%; tax rate of 25%? Interest rate of 10%;tax rate 30%? Outstanding 10% coupons bonds have a yield to rate maturity of 14%. New bonds issues at par provide similar yield to maturity. If its margin tax rate is 35% what is the after-t..
A financial analyst has modelled the stock of the company using a Fama-French three-factor model. The risk-free rate is 5%; the market return is 10%; the return on the SMB portfolio (rSMB) is 3.8%; and the return on the HML portfolio (rHML) is 4.7%. ..
Assume you are presenting your budget and the business owner asks you about the projected growth in sales over the 5-year period. How would you defend the growth in sales for your particular company? What information would you use as support?
Blake Company has 3400 hourly workers. They work 40 hours a week, at the rate of $7.00 an hour, and they are paid every Friday. The company has decided to pay them twice a month. The cost of printing and processing each check is $1.25. The cost of ca..
The payback method fails to consider. Why is our reserve banking system an independent federal agency? Why do many people believe we should not have a independent reserve system? Corporate federal income tax rates. Preferred stock and bonds are simil..
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