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Problem - A loan-shark (a person who loans money at very high rates of interest) lends money at a nominal interest rate of 100% per month (every 30 days). This 100% MPR or monthly percentage rate is compounded daily.
a) If you borrow from this person and pay him back in 30 days, what is the actual interest rate for your loan, in other words, what is the monthly percent yield (MPY)?
b) If you pay back the loan in equal payments every six days, what is the effective interest rate for your payments?
c) Calculate the MPY (monthly percent yield) based on the effective interest rate of your "every six day" payment schedule.
d) If you had borrowed $100 and not repaid it for 1 year (365 days), what would your payment be?
A beautiful bridge is being built over the river that runs through a major city in your state.
Prepare the entry to record the redemption of the bonds. Prior to maturity, when the bonds' amortized cost was $421,200, the company redeemed the bonds at 97.
Evaluate the cost amount per unit and total manufacturing costs for the production and sale of 5,000 units of cellular phones. Evaluate the product cost markup percentage rounded to two decimal places for cellular phones.
Japan, Inc. (JI) has ¥2.4 billion of 3-year yen debt at a floating rate of 6-month (¥) LIBOR + 105 bps (MMY), or 52.5 bps each six months. What is the all-in cost of JI's yen-for-pound currency coupon swap?
Determine the date the note matures, and calculate how much interest expense is generated by this note, both for 2012 and 2013. OR must be entered in the format dcarnmm
Baltimore Company's assets and liabilities are Accounts Receivable $800, Equipment $10,000, Accounts Payable $4,050, Prepaid Rent $2,000, Supplies $400.
Could you please research and explain how the preferred stocks are sold to the public? Could you please research and explain the monetary benefits of buying preferred stocks instead of common stocks? Be specific in providing your explanation as well ..
Provide the journal entries for the revaluations that were undertaken in 2018 and 2019 for the buildings. What might economic consequence of asset revaluations
Compute the rate of depreciation per year to be applied to the plant assets under the composite method. Prepare the adjusting entry necessary at the end of the year to record depreciation for the year.
Journalize the April transactions. Frontier Park was started on April 1 by M. Preston. The selected events and transactions occurred during April
Why would managers prefer short-term cash over long-term equity bonuses? Why does this not align with shareholder interests? Explain your answer.
JB Ltd manufactures and sells a single product, electric oven,Determine the total sales JB Ltd need to make in unit and in dollars to earn a profit of $25,000?
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