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Assume that you are a homeowner, and are trying to determine if you should refinance your mortgage. The interest rate on your existing mortgage is 4.875%, and you have 22 years of payments remaining. Your unpaid mortgage balance is $285,000. If you refinance the mortgage, you must pay $7,000 in upfront fees to obtain a new 30 year mortgage. The interest rate on your new mortgage will be 4.3%.
A. What is the monthly mortgage payment on your existing mortgage?
B. What would be the monthly mortgage payment on the new (30 year) mortgage?
C. If you take out the new 30 year mortgage, how much interest will you pay across the entire 30 year period?
D. You are 99.9% certain that you will live in this house for exactly 7 more years, at which time you will pay off the remaining mortgage balance and move (regardless of whether you refinance the mortgage). What is the present value of your expected net savings (or loss) if you refinance? Would it be in your best financial interests to refinance the mortgage today?
If interest rates suddenly rise by 2 percent, what is the percentage change in the price of each bond?
A potential investor is seeking to invest $750,000 in our venture at an expected 40% rate of return. The firm currently has 2,000,000 shares held by the founders. The venture is projected to generate $850,000 in income per year over the next 5 years...
What is the firm's value of operations after the repurchase? How many shares will remain after the repurchase?
A company is expecting a growth rate of 14% for the next two years due to a new invention. Thereafter it should level to an 8% growth rate. The last dividend paid was $.65 per share. What price should the stock sell for if investors require 12% retur..
The Extreme Reaches Corp. last paid a $1.50 per share annual dividend. The company is planning on paying $3.00, $5.00, $7.50, and $10.00 a share over the next four years, respectively. After that the dividend will be a constant $2.50 per share per ye..
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Highmark, Incorporated is considering an investment in new equipment that costs $5,030,000. It will be used for 4 years and qualifies as five-year MACRS property. What will the book value of this equipment be at the end of four years?
The current price of the issuing company's stock is $26, and the conversion ratio is 34 shares. What is the bond's market conversion value?
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