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1. You wish to purchase a property for $600,000 and need to acquire a mortgage to finance $500,000 of the purchase price. A bank offers you a $500,000 fixed rate 30 year fully amortizing constant payment mortgage with a 3.5% rate. What will your monthly payment be on this loan? State you payments as a positive value rounded to the nearest cent.
2. You wish to purchase a property for $600,000 and need to acquire a mortgage to finance $500,000 of the purchase price. A bank offers you a $500,000 fixed rate 30 year fully amortizing constant payment mortgage with a 3.5% rate. The interest rate the lender quotes you is a nominal rate. What is the equivalent annual rate of interest on this loan? Round your answer to 3 decimal places. (Express your answer in the following manner: if your answer was five and three quarters percent, enter 5.750)
3. You wish to purchase a property for $600,000 and need to acquire a mortgage to finance $500,000 of the purchase price. A bank (Bank 1) offers you a $500,000 fixed rate 30 year constant payment mortgage with a 3.5% rate. Bank 2 offers you a loan that is identical in all ways, except this bank will offer you a 3.4% rate on your mortgage. If you plan to hold your mortgage until the maturity date, how much money will you save over the life of the loan by choosing to get a mortgage with Bank 2? Round your answer to the nearest cent.
Which of the following methods does not consider the investment’s profitability? Cash + short-term investments + net current receivables) divided by current liabilities is the formula for
The debt has a one-year maturity and a promised interest payment of 11%. Thus, the promised payment to Backwoods’s creditors is $1,132.2. The market value of the assets is $1,220 and the standard deviation of asset value is 47% per year. The risk-fre..
Your small remodeling business has two work vehicles. One is a small passenger car used for job-site visits and for other general business purposes. The other is a heavy truck used to haul equipment. The cost of gasoline is $3.70 per gallon. Suppose ..
Present Worth Method and annual Worth Method - Suppose that a manufacturer is going to produce a part which is a component of a number of his assembled products.
Your firm has an average collection period of 46 days. Current practice is to factor all receivables immediately at a 2 percent discount. What is the effective cost of borrowing in this case? Assume that default is extremely unlikely.
You have just signed a contract to purchase your dream house. The price is $120,000 and you have applied for a $100,000, 30-year, 5.5 percent loan. Annual property taxes are expected to be $2,000. Hazard insurance will cost $400 per year. Your car pa..
If a tax is levied on the output of a competitive firm, the firm acts as though
Katie Holmes and Garden Co. has 10, 640,000 shares outstanding. The stock is currently selling at $52 per share. If an unfriendly outside group acquired 25 percent of the shares, existing stockholders will be able to buy new shares at 30 percent belo..
Your portfolio has provided you with returns of 8.6 percent, 14.2 percent, -3.7 percent, and 12.0 percent over the past four years, respectively. What is the geometric average return for this period?
The real risk-free rate is 2.4%. The maturity risk premium is 0.1% for 1-year maturities, growing by 0.2% per year up to a maximum of 1.0%. The interest rate on 4-year treasuries (federal government bonds) is 6.4%, 7.5% on 8-year treasuries, and 8.2%..
An analyst is estimating the intrinsic value Harkleroad Technologies' stock. Harkleroad's free cash flow is expected to be $30 million this year, and grow at a constant rate of 7.5 % a year. The company's WACC is 11%. Harkleroad has $225 million of l..
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $100,000 in eighteen years. If they are able to earn 5% per annum, how much must be deposited at the end of each of the next eighteen years to fu..
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