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(Annuity interest rate) Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $22,691.00 that will pay them $3,500 per year for 10 years. They don’t have the slightest idea what return they would be making on their investment of $22,691.00 What rate of return would they be earning? The annual rate of return your folks would be earning on their investment is _____% (Round to two decimal places) Please show the formula for the answer.
In a rare moment of generosity, you give your nephew $100 on his first birthday. Your nephews mother, however, knows the time value of money, so she invests the money in a 20-year 7% CD. (At maturity the CD pays back the principal plus accumulated in..
A bond that has a $1000 par value (face value)and a contract or coupon interest rate of 11.2 percent. Interest payments are $56.00 and are paid semiannually. The bonds have a current market value of $1128 and will mature in 10 years. The firm margina..
Assume the total cost of a college education will be $200,000 when your child enters college in 15 years. You presently have $80,000 to invest. What rate of interest must you earn on your investment to cover the cost of your child's college education..
Allen Green is a single taxpayer with an AGI (and modified AGI) of $210,000, which includes $170,000 of salary, $25,000 of interest income, $10,000 of dividends, and $5,000 of long-term capital gains. What is Allen's Net Investment Income tax liabili..
Erna Corp. has 7 million shares of common stock outstanding. The current share price is $86, and the book value per share is $5. Erna Corp. also has two bond issues outstanding. The first bond issue has a face value of $70 million, has a coupon rate ..
Showboat Theatres has paid annual dividends of $0.32, $0.48, and $0.56 a share over the past three years, respectively. The company now predicts that it will maintain a constant dividend since its business has leveled off and sales are expected to re..
Ogden Mear did an excellent job saving for retirement. He was able to save $1,000,000 in an account that pays 5 percent per year. His plan was to eventually withdraw all his money by paying himself in equal instalments every six months for the next 2..
Stilley Corporation had earnings after taxes of $436,000 in 2013 with 200,000 shares outstanding. The stock price was $42.00. In 2014, earnings after taxes declined to $206,000 with the same 200,000 shares outstanding. The stock prices declined to $2..
Purchases are equal to 67 percent of the following quarter's sales. The sales for the first quarter of the following year are estimated at $42,100. The accounts receivable period is 30 days and the accounts payable period is 45 days. Assume there are..
The following procedure is recommended when creating financial statements in Excel, in order to minimize error and make the statements easier to read when provided to others:
Joe secured a loan of $10,000 four years ago from a bank for use toward his college expenses. The bank charges interest at the rate of 3%/year compounded monthly on his loan. Now that he has graduated from college, Joe wishes to repay the loan by amo..
Zhdanov Inc. forecasts that its free cash flow in the coming year, i.e., at t = 1, will be -$10 million, but its FCF at t = 2 will be $20 million. After Year 2, FCF is expected to grow at a constant rate of 4% forever. If the weighted average cost of..
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