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A father is now planning a savings program to put his daughter through college. She is 13, she plans to enroll at the university in 5 years, and she should graduate in 4 years. Currently, the annual cost (for everything - food, clothing, tuition, books, transportation, and so forth) is $15,000, but these costs are expected to increase by 6% annually. The college requires that this amount be paid at the start of the year. She now has $6,500 in a college savings account that pays 7% 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? 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 7%, as of the day she enters college. Then find the compounded value of her initial $6,500 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 (starting immediately) that will compound to the required amount.]
You are evaluating two different silicon wafer milling machines. The Techron I costs $255,000, has a three-year life, and has pretax operating costs of $68,000 per year. For both milling machines, use straight-line depreciation to zero over the proje..
When Professor Show endows an annual lecture series at School of Public Administration at the University he stipulates that only the interest income derived from his gift may be used for to fund the program. The SPA places the gift in its ___________..
Hugo Enterprises (HE) is a small oil services firm in the Houston area.
A newly issued 20-year maturity, zero-coupon bond is issued with a yield to maturity of 3.5% and face value $1,000. Find the imputed interest income in the first, second, and last year of the bond's life. Assume annual compounding
Zero, Inc. produces a product that has a variable cost of $6.00 per unit. What is the volume of sales in units required to achieve the target profit?
The stock will move up by a factor of 1.12 or down by a factor of 85 over next period and the risk-free rate is 3 percent. What is the price of the put option.
Compare the alpha from the four-factor model and the CAPM. Are the alphas different? What do the differences suggest?
Think about: What if the income tax was eliminated in favor of a consumption tax? Research the concept of the consumption tax. Propose a consumption tax system that will meet the criteria of "good" tax in other word that is "fair".
Complete a preliminary analysis of the financial information. Evaluate materiality based on the information you've been given and justify your calculation.
Maxx Inc. has provided the following data from its activity-based costing system:
On what stock exchange does United Continental Holdings's common stock trade (UAL)? What is the date you are using for any market information you provide in questions that follow this one?Be sure to include the day of the week as well as the month, d..
Microwave Oven Programming, Inc is considering the construction of a new plant. The plant will have an initial cash outlay of $15 million, and will produce cash flows of $5 million at the end of year 1, $6 million at the end of year 2, and $4 million..
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