Terms would allow you to withdraw your money soonest

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Reference no: EM132045256

1. Assume you wanted to deposit $400 in a savings account today and withdraw the money when the balance reaches $500. Which of the following terms would allow you to withdraw your money the soonest?

a. 7.00% Annual Rate compounded annually

b. 6.90% Annual Rate compounded semi-annually

c. 6.85% Annual Rate compounded monthly

d. 6.75% Annual Rate compounded quarterly

e. 6.80% Annual Rate compounded weekly

f. 6.70% Annual Rate compounded daily

2. The debt position of a company is: 15,000 7 percent coupon bond outstanding, 15 years to maturity, selling for 92 percent of par; the bonds have a $1,000 par value each and make semiannual payments. The tax rate is 35 percent. The after tax cost of debt is:

.0396

.0792

.0515

.0700

None of the above

Reference no: EM132045256

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