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Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $13,700 balance from your current credit card, which charges an annual rate of 21.5 percent, to a new credit card charging a rate of 12.1 percent.
How much faster could you pay the loan off by making your planned monthly payments of $310 with the new card? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Number of months
What if there was a 1 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Pharsalus Inc. just paid a dividend (i.e., D0) of $ 1.57 per share. This dividend is expected to grow at a rate of 2.9 percent per year forever. The appropriate discount rate for Pharsalus's stock is 13.9 percent. What is the price of the stock?
A company pays a current dividend of $1.20 per share of common stock. The annual dividend will increase by 3%, 4% and 5%, respectively, over the next three years, and by 6% per year thereafter. The appropriate discount rate is 12%. What is the price ..
A three-month Treasury bill and a six-month bill both sell at a discount of 9%. Calculate the annual yield of three-month Treasury bill. Calculate the annual yield of six-month Treasury bill.
Cheeseburger and Taco Company purchases 19,632 boxes of cheese each year. It costs $29 to place and ship each order and $3.81 per year for each box held as inventory. The company is using Economic Order Quantity model in placing the orders. What is t..
Monk, Inc. is considering a capital budgeting project in Tunisia. The project requires an initial outlay of 1 million Tunisian dinar; the dinar is currently valued at $.70. Determine the net present value (NPV) of the project in each of the four poss..
You are asked to evaluate two machines. The benefits from ownership are identical. Machine A costs $300 to buy and install, lasts for 5 years, and costs $160 per yea to operate. Machine B costs $500, lasts for 7 years, and costs $120 per year to oper..
Define and discuss the different dimensions (or aspects) of risk in the context of corporate projects. Which is the most relevant for investors? Of these dimensions, which is the company most likely to focus on and why?
Stock R has a beta of 1.2, Stock S has a beta of 0.40, the expected rate of return on an average stock is 13%, and the risk-free rate is 3%. By how much does the required return on the riskier stock exceed the required return on the riskier stock exc..
Analysts predict that its earnings will grow at 30% per year for the next 5 years. After that, as competition increases, earnings growth is expected to slow to 5% per year and continue at that level forever. Your company has just announced earnings o..
A $200,000, 30 year, monthly payment mortgage has in interest rate of 4.5% plus two points. What is the lender’s yield if the loan is amortized over the full 30 years?
Trevor Hancock has just retired. He has set aside enough money in his retirement fund to be able to withdraw $15,000 per year for 20 years during retirement. If his fund earns 6% interest annually, what is the current value of his retirement fund?
Assume that your company negotiated a deal where it would pay $12,000 for the investment and receive a payment of $24,000 at the end of 7 years. What is the IRR on this investment? Should the company make the investment?
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