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Assume that an individual borrowed $150,000 on January 1 of Year 1, at 6% interest per annum. On December 31, of Year 1, an $12,000 payment is made. On December 31, of year 2, another $12,000 payment is made. Using normal assumptions about interest and principal reduction, how much is the unpaid balance of the person’s loan after the second payment?
a. $144,000
b. $143,820
c. $150,000
d. $132,000
The Wiley Oakley Co. has just gone public. Under a firm commitment agreement, the company received $21.65 for each of the 6.65 million shares sold. The initial offering price was $23.50 per share, and the stock rose to $30.01 per share in the first f..
What is the duration of a bond with a par value of $ 10,000 that has a coupon rate of 3.5 percent annually and a final maturity of two years? Assume that the required rate of return is 4 percent compounded semiannually. What is the duration of a two-..
Consider the following annually compounded (APR) yields: Assuming all rates are quoted per annum (APR) with annual compounding and the notes have an annual coupon equal to the yield (i.e. are priced at par). Use linear interpolation to find the yield..
Quick Computing installed its previous generation of computer chip manufacturing equipment 3 years ago. Some of that older equipment will become unnecessary when the company goes into production of its new product. What is the after-tax cash flow fro..
Small Corporation would like to forecast the value of the Cyprus pound (CYP) five years from now using forward rates. Unfortunately, Small is unable to obtain quotes for five year forward contracts. However, Small observes that the five year interest..
Hayden Inc. has a number of copiers that were bought four years ago for $33,000. Currently maintenance costs $3,300 a year, but the maintenance agreement expires at the end of two years and thereafter the annual maintenance charge will rise to $9,300..
Your mother is trying to choose one of the following bank CDs to deposit $10,000. Which will have the highest future value if she plans to invest for three years? (A) 3.50% compounded daily (B) 3.25% compounded monthly (C) 3.40% compounded quarterly ..
If Steve invests $5,000 in an interest bearing security paying 10% per year for 5 years, what will his investment be worth at the end of 5 years: a. if the security pays simple interest? b. if the security pays interest compounded annually? c. How mu..
How the ratios discussed this week could be used to evaluate a company of your choice. Use finance.yahoo.com for additional information.
Use the following data from a firm's pro forma financial statements to calculate the following ratios for the firm: Current ratio to measure liquidity; debt-equity ratio to measure leverage;
The following table gives Foust Company's earnings per share for the last 10 years. The common stock, 6.7 million shares outstanding, is now (1/1/15) selling for $68 per share. Calculate Foust's after-tax cost of debt. Calculate Foust's cost of commo..
In an efficient capital market:
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