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Hunter Boyd who just turned 32, expects to retire in 35 years when he turns 67. Mr. Boyd just passed Idaho’s Licensed Plumbers LP exam, allowing him to bid on plumbing projects having a total cost less than $25,000. Mr. Boyd expects to earn $55,000 next year during his first year as an LP. The Northwest Economic Development Consortium expects yearly earnings for licensed plumbers to grow 4.5 percent per year over the next 35 years. Mr. Boyd plans to save for retirement by depositing 10 percent of his yearly income at the end of each year in a retirement savings account. Mr. Boyd expects to earn a yearly return on his retirement savings of 9.2 percent over the next 55 years. Mr. Boyd’s life expectancy is 55 years, allowing him to enjoy a 20-year retirement period, with yearly withdrawals from the retirement account at the end of each of the 20 years following his retirement at age 67. Mr. Boyd requires a yearly retirement income stream having constant purchasing power during each year of retirement, so that the dollar amount of his retirement income must increase each year at the rate of inflation. Assuming that inflation is expected to be 3.7 percent per year, determine the maximum initial retirement income that Mr. Boyd can withdraw from the retirement account at the end of his first year in retirement.
What is the effect of stock (not cash) dividends and stock splits on the market price of common stock? Why do corporations declare stock splits and stock dividends?
If you were comparing the costs of loans from different lenders, could you use their APRs to determine the loan with the lowest effective interest rate? What information do YOU think lenders should be required to disclose when making loans? Explai..
A US T-bill, with a face value of $100 and maturing in 60 days, can be purchased for $99.40. Calculate its discount yield and its bond equivalent yield.
This planned expansion of the company's present activities would require an investment of $800,000 in equipment having an estimated service life of six years. He has estimated that the equipment could be sold for $40,000 at the beginning of the se..
Merck wants to develop a promising new NCE [New Chemical Entity] costing $800 million to $1 billion to bring through clinical trials to market. How would it expect to finance this project? What would the impact be on its D/E?
A ten-year bond, with par value equals $1000, pays 5% annually. If similar bonds are currently yielding 6% annually, what is the market value of the bond? Use semi-annual analysis.
You have 100 business clients who own businesses that you insure against floods. The probability density function of the number of claims k per year for these 100 clients when rainfall is at or below average (which happens 50% of the time) is describ..
What general problems must be addressed in doing ratio analysis for government financial condition analysis? Do traditional solvency ratios adequately address financial condition analysis concerns? Provide your responses supported by text and other r..
How do we calculate the payback period for a proposed capital budgeting project? What are the main criticisms of the payback method?
(Calculating operating cash flows) assume that a new project will annually generate revenues of $ 2,600,000. Cash expenses including both fixed and variable costs will be $ 500,000, and depreciation will increase by $ 180,000 per year. In addition, l..
Trevor Price bought 10-year bonds issued by Harvest Foods five years ago for $936.05. The bonds make semi-annual coupon payments at a rate of 8.4 percent. If the current price of the bonds is $1,048.77, what is the yield that Trevor would earn by sel..
Bill Farmer has had some financial problems and cannot pay the $200,000 loan that is due next week (i.e. now). Bill's lender agrees to accept 5 annual payments of $46,000 each for the next 5 years instead, with the first payment due one year from now..
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