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Suppose you take out a loan for $24,475 to purchase a 2016 Nissan Altima. Nissan offers $500 cash back (which you use as part of the down payment), and you also put $2,299 of your own money down (so a total down payment of $2,799). The loan is for six years at 3% interest with monthly payments, and monthly payments begin one month after purchasing the car. After three years of payments (36 payments), what is the principle remaining on the loan? As always, do not round computations until reporting the final answer. Round the final answer to the nearest $0.01.
The cost of retained earnings is less than the cost of new outside equity capital. Consequently, it is totally irrational for a firm to sell a new issue of stock and to pay cash dividends during the same year. Discuss the meaning of those statements.
Depreciation and Cash Flow- Rogers Corporation has a gross profit of $880,000 and $360,000 in depreciation expenses. The Evans Corporation also has $880,000 in gross profit, with $60,000 in depreciation expenses. What is the cash flow for both compan..
Summit Systems has an equity cost of capital of 11.5%, will pay a dividend of $1.00 in one year, and its dividends had been expected to grow by 7.0% per year. What is the drop in value of a share of Summit Systems stock based on this information? If ..
Kanu has a $515,000 inside a deferred variable annuity. He put $500,000 into the annuity and the remaining $15,000 is growth. He started the annuity exactly one year and one day ago. The sub account for the annuity is 100% invested in stocks. Kanu is..
What is the Monthly Mortgage Payment for a 30-yr fixed rate mortgage with an interest rate of 4.75%, 1.5 points and $1000 in fees on a home with a value of $300,000 and an LTV of 80%? What is the interest paid, principal paid and balance on the mortg..
Mortgage interest is tax deductible, meaning that you can subtract the amount of interest (not the total payment) from your annual taxable income.
Rodney the researcher theorizes that people become pessimistic on Friday the thirteenth. Consequently, he studies the data on the stock market to see what happens to the average return on Friday the thirteenth for the last 40 years. He finds that the..
Use the information below to determine before tax-costs of debt financing of bond S:
The direct spot quotes on the pound in New York are $1.4783 – 91. The 30-day forward quotes in points are (bid - ask) 14 – 9. What is the outright 30-day forward bid quote?
Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales outstanding on its cash conversion cycle. Winston's 2013 sales (all on credit) were $168,000 and its cost of goods sold was 75% of sales. It turned over its..
A British company enters into a currency swap in which it pays a fixed rate of 6 percent in dollars and the counterparty pays a fixed rate of 5 percent in pounds. The notional principals are £75 million and $105 million. Payments are made semiannuall..
Looking for the answer to part b. a. Several years ago, Castles in the Sand Inc. issued bonds at face value of $1,000 at a yield to maturity of 5.0%. Now, with 5 years left until the maturity of the bonds, the company has run into hard times and the ..
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