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1. Bank A pays 8 percent interest, compounded quarterly, on its money market account. The managers of Bank B want its money market account to equal to Bank A’s effective annual rate, but interest is to be compounded on a monthly basis. What nominal, or quoted rate must Bank B set?
a) 7.880%
b) 7.915%
c) 7.947%
d) 8.000%
e) 8.073%
2. You are offered an investment with a quoted annual interest rate of 15% with monthly compounding of interest. What is your effective annual interest rate?
a) 15.00%
b) 15.62%
c) 16.08%
d) 16.61%
The next dividend payment by Halestorm, Inc., will be $1.60 per share. The dividends are anticipated to maintain a growth rate of 6 percent forever. The stock currently sells for $30 per share. What is the dividend yield? What is the expected capital..
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A pension plan is obligated to make disbursements of $1 million, $2 million, $5 million and $1 million at the end of each of the next four years, respectively. Find the duration of the plan’s obligations if interest rates are flat at 10% annually.
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If income taxes were substantially increased to cover the costs of a new national health care program, the interest rate spread between tax-exempt municipal bonds and corporate bonds would ____.
You must make a payment of $1,619.01 in 10 years. To get the money for this payment, you will make 5 equal deposits, beginning today and for the following 4 quarters, in a bank that pays a nominal interest rate of 6% with quarterly compounding. How l..
Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac’s s..
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