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Marty and Mary have jobs and contribute to the household expenses according to their income. Marty contributes 75% of the expenses and Mary contributes 25%. Currently, their household expenses are $30,000 annually. Marty and Mary have three children. The youngest child is 12, so they would like to ensure that they could maintain their current standard of living for at least the next eight years. They feel that the insurance proceeds could be invested at 6%. In addition to covering the annual expenses, they would like to make sure that each of their children has $25,000 available for college. If Marty were to die, Mary would go back to school part-time to upgrade her training as a nurse. This would cost $20,000. They have a mortgage on their home with a balance of $55,000. How much life insurance should they purchase for Marty?
Consider a 8.60 percent coupon bond with twelve years to maturity and a current price of $953.90. Suppose the yield on the bond suddenly increases by 2 percent. Use duration to estimate the new price of the bond. Calculate the new bond price.
During the current year, Margaret and John received $24,000 in Social Security benefits. The amount of their adjusted gross income for the year before any Social Security income was $140,000 and they received $19,000 in tax-exempt income. Explain the..
A U.S. investor bought a 6 year German federal bond (Bund), the face value of the bonds is 1,000 EUR, the coupon is 1.5%, and the price 1, 125 EUR. At the time of buying the bond, the exchange rate was 1.3824 [USD/EUR], now, three years later, it is ..
You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $50,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn an annual return ..
Jett’s Carwash has $4 billion in debt and $2 billion in equity. The firm’s cost of debt of 3.3 percent and a cost of equity of 14.4 percent (assume that these costs do not change with the capital structure). The tax rate is 35%. What is the firm’s we..
Fixed asset is classified as five-year asset under MACRS for taxes-will be depreciated straight-line to zero over three-year project life for book accounting.
Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. The present value of $700 due in 1 year at a discount rate of 3%. The present value of $700 due in 2 years at a discount rate of 3..
Calculate expected annual payments for mortgage interest, property taxes, and insurance. Calculate expected gross rents and net operating income.
Using expectations theory and geometric averages, forecast the yields on the following securities:
In terms of this characteristic, how do the services offered by a doctor’s office differ from those offered by a bank?
FIN 522 FINAL Exam. Calculate the EnV: EBITDA value for the unknown company using the data provided for the period ending August 2017
Interest-on-Interest Consider a $2,900 deposit earning 10 percent interest per year for 9 years. How much total interest is earned on the original deposit (excluding interest earned on interest)?
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