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Suppose Pima County issued a $120 million debt to build a new jail in 2007. The interest rate on the bond was 7%. The original debt payment schedule was to pay off the debt in 30 years with equal annual payment every year. After ten years, the interest rate is now down to 5% in 2017. The County wants to refinance its debt at this low rate, that is to say to issue a new bond at 5% to pay off what is left of the old debt and then pay debt service on the new bond. If the city can issue a new debt at 5% with a maturity of 20 years beginning in 2017, please figure out:
1. What is the annual level payment on the old debt?
2. What is the amount of the new bond?
3. What is the saving in annual payment every year for the next 20 years? (Assume also an equal annual payment on the new bond.)
4. Use this case as an example, briefly comment on why citizens should care about your local government debt management.
Calculate the required rate of return for an asset that has a beta of 0.31?, given a? risk-free rate of 4.3?% and a market return of 8.4?%.
Vikki and Tim Treble have been married for two years. They bought and moved into their first house within the last six months and have been decorating and making minor renovations ever since. The first room they concentrated on was the baby’s room. W..
What is the estimated profit your insurance company can expect to have at end of 35 years after deducting amount of capital required to fund your annuity due.
The video discussed collateralization of assets to secure loan, assumption of massive debt loads-levering tax incentives against risk as to boost annual profits
The Final Paper will involve applying the concepts learned in class to an analysis of a company using data from its annual report. Using the concepts from this course, you will analyze the strengths and weaknesses of the company and write a report re..
Suppose Microsoft, Inc., reports earning per share of around $0.75. If Microsoft is in an industry with a PE ratio ranging from 30 to 40, what is a reasonable price range for Microsoft. Please explain/show work for best comprehension.
A bond sells for $941.15 and has a coupon rate of 7.80 percent. If the bond has 21 years until maturity, what is the yield to maturity of the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. O..
Discuss the elements of zero-base budgeting. How does it work? What are the advantages and disadvantages of zero-base budgeting? Provide a real-life example of a user of this type of budgeting.
He has mortgage loan on the family home that was made several years ago when interest rates were lower.
There are RIGHTS associated with the ownership of real property and there are also limitations on those rights.
Net income results, reported in the financial statement presentation, can be affected by the inventory reporting methods used.
A local dental practice decides to run a Groupon campaign. The campaign offered $350 worth of dental services (such as teeth whitening) for $145. For the total campaign, 255 coupons were sold. Calculate the number of new customers.
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