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Bobby Brown decides to buy a Nissan Maxima. After paying a down payment and taxes, Bobby Brown can finance the rest of the purchase price with a loan of $27,000 for 60 months at a special finance rate offered by Nissan: 0.9% APR compounded monthly. Answer the following.
1. What is the effective annual rate charged on this car loan?
2. What would be Bobby Brown’s monthly payment under this loan?
3. Bobby Brown also discovers instead of the special finance rate he could receive $1500 cash back that he can use as an additional down payment which would lower his loan amount by the cash back amount. At what APR would Bobby Brown have the same monthly payment with the cash back option as he would with the special finance rate offer that you found in the last question?
4. Bobby Brown finds he can get 2.0% APR Financing if he elects the cash back option. What will his monthly payment be under this option and should he elect this cash back option over Nissan’s special APR financing option?
Porter Plumbing's stock had a required return of 10.50% last year, when the risk-free rate was 5.50% and the market risk premium was 4.75%. Then an increase in investor risk aversion caused the market risk premium to rise by 2%. The risk-free rate an..
You want to borrow $36,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $750, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan?
Volbeat Corporation has bonds on the market with 14.5 years to maturity, a YTM of 10.2 percent, and a current price of $953. The bonds make semi-annual payments.
Currently bonds with a similar credit rating and maturity as the firm's outstanding debt are selling to yield 8.32% while the borrowing firm’s corporate tax rate is 34%. The after tax cost of debt for the firm is ________% Common stock for a firm tha..
What are separately stated items on a K-1? Why is it necessary to separate these items from ordinary income
On October 1st Martin Corp have the following balance in stockholders’ equity. What are the balances in the three stockholders equity accounts after the new shares have been distributed? What, if any, is the new par value?
Hart Enterprises recently paid a dividend, D0, of $2.75. It expects to have no constant growth of 25% for 2 years followed by a constant rate of 8% thereafter. The firm's required return is 10%.
Successive loan deposited in a checking account and no banks keeping any excess reserves - suppose First Main Street Bank loans out all of its new excess reserves to Kristen, who immediately uses the funds to write a check to ]aural.
What is the required return for a stock that has a 5.7% constant-growth rate, a price of $21.25, an expected dividend of $1.70, and a P/E ratio of 10?
assume you have just been assigned to a project risk team of five members. because this is the first time your
Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years, because the firm needs to plow back its earnings to fuel growth. The company will pay a $10 per share dividend in 10 years and wil..
Joe Jay purchased a new home with a $260,000 loan. He decided to use Loyal Bank for his mortgage and the bank required him to put down 20%. The monthly payment for the 6.50% 25- year mortgage is $1,404.43. What was the principal after the first payme..
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