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Like many college students, Julie applied for a credit card that has an annual percentage rate of 18%. The first thing she did was buy a new stereo system for $250. At the end of the month, her credit card payment said that she only needed to make the minimum payment of $15. Assume Julie makes her payment when she sees her statement at the end of each month. If Julie doesnt charge anything else and only makes the minimum monthly payments, approximately how many months will it take for her to completely pay off the stereo system? Assume that the credit card company compounds interest at the end of the month.
Julie now realizes that she needs to pay more than just the minimum payment, so she pays twice the minimum payment per month ($30 per month) instead. How much quicker will she pay off the stereo system?
If instead, Julie wants to pay off the stereo system by the end of the year, what is the minimum monthly payment she must make?
Suppose 20 years ago your mother deposited $ 2500 in an account earning 12% annually. Obtain today's value. Suppose 20 years ago your mother deposited $ 2500 in an account earning 12%. After 10 years she withdrew $ 1,000. Obtain today’s value. What i..
Market value weight of debt Market value weight of preferred stock Market value weight of equity.
You are considering buying a car from a local auto dealer. What is the effective interest rate being charged by the dealer?
Build a GARCH model for the series, - build a stochastic volatility model for the series, and - compare and discuss the two volatility models.
A company is trying to decide whether to buy a part from suppliers, produce the part while using manual assembly, or produce the part with an automated assembly system. The company expects an annual volume of 185,000 parts. What other considerations ..
Analyze Boeing’s financial statements for the prior five years. Calculation of at least five significant liquidity ratios for each of the five years analyzed.
You have your choice of two investment accounts. Investment A is a 12-year annuity that features end-of-month $1,300 payments and has an interest rate of 7.1 percent compounded monthly. Investment B is a 6.6 percent continuously compounded lump sum i..
Its annual sales are $5.13 million, its average tax rate is 30%, and its net profit margin on sales is 5%. What is its TIE ratio?- show the calculation for this problem?
The Clothing Co. is looking at a project that will require and initial increase of $40,000 in net working capital and $100,000 in fixed assets. The project is expected to produce annual sales of $90,000 with associated costs of $60,000. What are the ..
You have just made your first $2,000 contribution to your individual retirement account. what will your account be worth when you retire in 45 years?
The state lottery's million-dollar payout provides for $1.3 million to be paid in 20 installments of $65,000 per payment. The first $65,000 payment is made immediately, and the 19 remaining $65,000 payments occur at the end of each of the next 19 yea..
A firm raises capital by selling ?$35,000 worth of debt with flotation costs equal to 1?% of its par value.
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