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In exchange for a $400 million fixed commitment line of credit, your firm has agreed to do the following: Pay 1.92 percent per quarter on any funds actually borrowed. Maintain a 1 percent compensating balance on any funds actually borrowed. Pay an up-front commitment fee of 0.27 percent of the amount of the line. Based on this information, answer the following: a. Ignoring the commitment fee, what is the effective annual interest rate on this line of credit? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual rate % b. Suppose your firm immediately uses $222 million of the line and pays it off in one year. What is the effective annual interest rate on this $222 million loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual rate %
Please give correct answers for both parts
Summarize types of details would you present to board of directors finance committee when seeking approval for new fiscal year budget?
Primrose Corp has $17 million of sales, $2 million of inventories, $3 million of receivables, and $1 million of payables. Its cost of goods sold is 85% of sales, and it finances working capital with bank loans at an 7% rate. What is Primrose's cash c..
Use Excel to draw the security market line based on a market rate equivalent to the S&P 500 2014 return (google it) and a risk free rate equivalent to the current 10 year Treasury rate. Be sure to label your axis and cite your sources.
On January 1, you sold short one round lot (that is, 100 shares) of Lowe's stock at $21 per share. On March 1, a dividend of $3 per share was paid. What is the proceeds from the short sale (net of commission)? What is the dividend payment.
Ethier Enterprise has an unlevered beta of 1.25. Ethier is financed with 45% debt and has a levered beta of 1.55. If the risk free rate is 6% and the market risk premium is 6%, how much is the additional premium that Ethier's shareholders require to ..
You are a freshman in college and are planning a trip to Europe when you graduate from college at the end of four years. You plan to save the following amounts annually, starting today: $550, $710, $740, and $850. If you can earn 7.50 percent annuall..
A company has a $20 million portfolio with a beta of 1.2. It would like to use future contracts on a stock index to hedge its risk. The index future price is currently standing at 1080, and each contract is for delivery of $250 times the index. What ..
different implications of running a country that is within or outside of the european union. if you were the head of a
Calculate the bond equivalent yields and the equivalent annual returns for this repurchase agreement with a 7-day maturity.
Your average account value during the year is $200,000. What is the administrative fee for the year?
Scott purchased 200 shares of Frozen Foods stock for $48 a share. Four months later, he received a dividend of $0.22 a share and also sold the shares for $42 each. What was his annualized rate of return on this investment?
During what month did bond yields fall to their trough, or lowest level? Using the demand and supply for bonds model, explain the fall of bond yields from their peak to their trough.
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