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An insurance company collected $3.7 million in premiums and disbursed $2.07 million in losses. Loss adjustment expenses amounted to 7.7 percent and dividends paid to policyholders totaled 1.3 percent. The total income generated from their investments was $280,000 after all expenses were paid. What is the net profitability in dollars? (Enter your answer in dollars not in millions.)
An assignable loan contract executed 3 months ago requires two payments of $3,900 plus interest at 9% from the date of the contract, to be paid 4 and 8 months after the contract date. The payee is offering to sell the contract to a finance company in..
An engineering company in Virginia that owns 250 acres of valuable land has decided to lease the mineral rights to a mining company. The primary objective is to obtain long term income to finance ongoing projects 5 and 15 years from the present time...
A bond has a face value of $10,000 and a conversion ratio of 560. The stock is currently trading at $16.30. What is the conversion price?
Jim would like to retire in 35 years. Once he retires, he would like to have 120,000 at the end of each year until the day he passes away (30 yrs. after retirement). He believes he can earn a 7% return on his investment. Starting next year how much m..
Hedge Row Bank has the following balance sheet (in millions): Assets $270 Liabilities $216 Equity 54 Total $270 Total $270 The duration of the assets is 8 years and the duration of the liabilities is 6.2 years. The bank is expecting interest rates to..
The Japanese supplier has agreed to give Jenkins payment terms of net 90. The Japanese firm insists that payments be made in yen. The current exchange rate between the dollar and the yen is 108 yen per dollar. The 3-month forward exchange rate is 105..
If Gertrude have 10,000 now. What would Gertrude have in the bank at the end of three years if the annual effective rate of interest were 0.112998 + .09 for each of the three years?
A hospital treats a Medicare patient who is classified as drg 134, hypertension, with a case weight of .58. Assume the standardized labor rate is $3000 and the standardized non labor rate is $1200. What amount will the hospital be paid, excluding out..
A company XYZ is considering manufacturing a product in space. The project lifetime is 10 years and has the following consecutive phases: Phase 1 (years 1 to 3): The engineering design and development requires 3 years. what is the present value of th..
Volbeat Corporation has bonds on the market with 19 years to maturity, a YTM of 11.1 percent, and a current price of $937. The bonds make semi annual payments. What must the coupon rate be on the bonds?
Blink and Wink (BW) manufactures contact lens. In its most recent fiscal year BW reported after-tax interest expense on a new bond issue of $550,000. If BW's effective tax rate is 35%, what was the firm's before tax interest expense?
Bond J has a coupon rate of 5.1 percent. Bond S has a coupon rate of 15.1 percent. Both bonds have nine years to maturity, make semi annual payments, and have a YTM of 11.2 percent. If interest rates suddenly rise by 3 percent, what is the percentage..
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