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1. When you graduate you have $15,000 on your credit card which charges an APR of 14% compounded monthly. The credit card company tells you that your minimum payment is $232.90. If you make the minimum payment every month, how many months will it take you to pay off the entire balance (round up to the nearest month)?
2. After an injury, you win a lawsuit judgment of $3,586 per month starting next month for a total of 24 months. If the interest rate is 4.2% APR compounded monthly, what is the current equivalent lump sum of your settlement?
3. You borrow $6,205 from your parents after you graduate. You promise to pay them back over the next three years as 31 equal monthly payments starting one month from now. You set the interest rate on the loan as3.1% APR compounded monthly. How big are your monthly payments?
Please show the steps by using financial calculator.
Suppose you know that a company’s stock currently sells for $66.80 per share and the required return on the stock is 10 percent. You also know that the total return on the stock is evenly divided between capital gains yield and dividend yield. If it’..
If the price of the underlying stock changes to $33 per share, will the market value of the option increase, decrease, or remain the same? Why
Lee plans to retire in 22 years with a nest egg of $8M. He has already saved $500,000 in an investment account that generates a nominal rate of return of 12%, compounded quarterly. However, he needs to withdraw $150,000 from this account in 10 years ..
What are educational harms? What are social harms? What are physical harms? What are psychological harms?
The YAX Corporation's bonds have 6 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 9%. What is the yield to maturity at a current market price of $803? What is the yield to ma..
The producer of a certain commodity determines that to protect profits, the price p should decrease at a rate equal to half the inventory surplus S−D, where S and D are respectively the supply and demand for the commodity. Suppose the supply and dema..
Gerard has estimated that he is going to need enough in his retirement fund to withdraw $80,000 per year beginning on his 66th birthday and for 19 additional years thereafter. How much will Gerard need in his retirement account at age 65 if his fund ..
The older bonds have a face value of $100,000 each and pay 18% in semi-annual instalments. They have an early call provision for a 5% premium over face value. The bonds were sold 8 years ago and have a 12-year term.
important in order to receive full credit you need to answer the questions with a minimum of twoparagraphs. use one
What methods of financing and which basic documents are uses to conduct international trade transactions? Explain?
practical exercise stock analysisthe purpose of this project is to familiarize you with the stock market. using
Nigel received a Land Rover from his mother as a gift. Mom had purchased the Land Rover two years earlier for $65,000, but its fair market value at the date of the gift was only $50,000. No gift tax was paid by Mom at time of the gift.
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