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Your friend chose an ARM for the purchase of their new home. They would like to determine what the payment schedule will be. You decide to help and determine the following information to help you provide the answer. The contract rate is LIBOR – 1% where the current LIBOR rate is 4.00%. The mortgage is a 15 year 1/1 ARM 2/1/3. The purchase price of the home is $235,000 and the LTV of the mortgage is 70%.
You expect that LIBOR will be
3.25% in Year 1
4.50% in Year 2
5.50% in Year 3
6.50% in Year 4
4.00% in Year 5
What is the monthly mortgage payment for each of the first 5 years?
What is the amortization schedule for each of the first 5 years?
An investment has an installed cost of $535,800. The cash flows over the four-year life of the investment are projected to be $213,850, $230,450, $197,110, and $145,820. If the discount rate is zero, what is the NPV?
Strickler Technology is considering changes in its working capital policies to improve its cash flow cycle. Strickler's sales last year were $190,000 (all on credit), and it earned a net profit of 7%. Calculate Strickler's cash conversion cycle. Assu..
Last year, Cayman Corporation had sales of $7,000,000, total variable costs of $3,000,000, and total fixed costs of $1,500,000. In addition, they paid $480,000 in interest to bondholders. Cayman has a 35% marginal tax rate. If Cayman's sales increase..
Suppose firm XYZ has AR (Accounts Receivable) = 500, Sales = 3000, Inventory = 300, Cost of Goods Sold = 1200, and AP (Accounts Payable) = 100. How much cash does firm XYZ save if it reduces its Days Sales Outstanding by 10 days? What are specific ac..
Thatcher corporation's bonds will mature in 10 years. The bonds have a face value of $1,000 and an 8% coupon rate, paid semi annually. The price of the bonds is $1,100. The bonds are callable in 5 years at a call price of $1,050. What is their yield ..
Which of the following rights retained by a donor who gifts property during his or her lifetime will result in the inclusion of such property in the gross estate of the donor-decedent?
You want to estimate the MSRP of dirt bikes based on Engine Strokes, Write the estimated regression equations. Interpret the regression coefficients.
A stock price is currently $100. Over each of the next two six-month periods it is expected to go up by 12% or down by 6%. The risk-free interest rate is 5%. What is the risk-neutral probability that the stock price will increase each period? (Report..
What is the effective rate of interest if the loan is discounted?
Consider a resource-based economy which can allocate labor (L) to harvest timber (T) or fish (F). Assume the economy faces constant world prices for timber and fish, denoted Pt and Pf, respectively. How should labor be allocated to timber and fish pr..
What features of a downturn can make managing organizational change more difficult and organizational change more straightforward?
Assume that an investor lends 100 shares of Jiffy, Inc. common stock to a short seller. The bid-ask prices are $32.00 - $32.50. When the position is closed, the bid-ask prices are $32.50 - $33.00. The commission rate is 0.5%. The market interest rate..
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