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A floating rate mortgage loan is made for $100,000 for a 30-year period at an initial rate of 12 percent interest. However, the borrower and lender have negotiated a monthly payment of $800.
a. What will be the loan balance at the end of year 1?
b. What if the interest rate increases to 13 percent at the end of year 1? How much interest will be accrued as negative amortization in year 1 if the payment remains at $800? Year 5?
Sixx AM Manufacturing has a target (market value) debt equity ratio of 0.6. Its cost of equity is 19 percent, and its cost of debt is 9 percent. If the tax rate is 34 percent, what is the company's WACC?
Penny just won the state lottery that offers a choice of payment. She may opt for either receiving $1,000,000 today or $2,000,000 at the end of ten years. If she can invest her funds at 5% annually, which is better choice?
Analysts predicted earnings per share (EPS) for your company to be $0.12 at the close of 2020. How does this compare to actual EPS for 2020? If actual EPS is higher than the analysts’ prediction, what factors contributed to the success? If actual EPS..
Bill’s Bakery expects earnings per share of $3.14 next year. Current book value is $5.1 per share. The appropriate discount rate for Bill’s Bakery is 13 percent. Calculate the share price for Bill’s Bakery if earnings grow at 4.8 percent forever.
If the current exchange rate is 113 Japanese yen per U.S. dollar and the price of a Big Mac hamburger in the United States is $3.41, the yen price of a Big Mac hamburger in Japan is? How to show the work?
Cecelia Thomas is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,000 every year in a retirement account,beginning at the end of this year until she turns 65 years old. If the investment will earn 9.75 percent annu..
Suppose Powers Ltd. just issued a dividend of $2.63 per share on its common stock. The company paid dividends of $2.13, $2.20, $2.37, and $2.47 per share in the last four years. If the stock currently sells for $82, what is your best estimate of the ..
The Swiss House is a maker of high quality chocolates. The company is considering opening retail outlets. Mgt feels that retailing involves a different set of risks than it's current production operations and is therefore concerned about using the co..
Stephen plans to purchase a car 5 years from now. The car will cost $55,339 at that time. Assume that Stephen can earn 5.16 percent (compounded monthly) on his money. How much should he set aside today for the purchase?
The following relate to the income statement of Growth Company for the year ended 2008. What is the beginning inventory? Purchase returns 5,000 Purchase returns is inventory the company bought (part of purchases, and then returned to their supplier).
Stanton Inc. is considering the purchase of a new machine which will reduce manufacturing costs by $5,000 annually and increase sales by $6,000 annually. Stanton will use the MACRS method to depreciate the machine, and it expects to sell the machine ..
Shaggy owns a record shop. He sells classic, vintage vinyl records to the public mostly to collectors. Most of Shaggy’s inventory is just old album collections he picks up for bargain prices at estate sales. Discuss these issues: Is the album a capit..
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