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Your boss has just given you a $5,000 bonus for the superb work you have been doing. You want to save some of that money for a trip to Bora Bora that you are hoping to take in 4 years. You project that you will need $4,000 then. Assuming that you can open a savings account that earns a 3% annual interest rate that is compounded monthly, how much of your bonus should you invest today to reach your goal? You must show your calculator inputs to receive full credit (Ex: N=?, I=?, PV=?,PMT=?,FV=?). Round your answer to two decimal places.
The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $40. The unit cost of the giftware is $30. Year Unit Sales 1 41,000 2 44,000 3 18,000 4 11,000 Thereafter 0 It is expected that net working capital will amount t..
A variety of financial ratios and measures are provided about one of the auto companies and its stock. These are incomplete, however, so some additional information will have to be computed.
Sales Increase Maggie's Muffins, Inc., generated $4,000,000 in sales during 2013, and its year-end total assets were $2,800,000. Also, at year-end 2013, current liabilities were $1,000,000, consisting of $300,000 of notes payable, $500,000 of account..
Depreciation:
Whether to lease or buy? New system will provide $2.7 million in annual pretax cost savings. It costs $9.4 million depreciated straight-line to zero over 5 years. Tax rate is 34 percent, and borrow rate is 9 percent. Lease can be done for $2.5 millio..
Dobson Dairies has a capital structure, which consists of 60 percent long-term debt and 40 percent common stock. Assume the firm will be able to use retained earnings to fund the equity portion of its capital budget. What is the company’s weighted av..
How would each of the following changes tend to affect aggregate payout ratios (that is, the average for all corporations), other things held constant? An increase in the personal income tax rate. A liberalization of depreciation for federal income t..
Due to poor spending habits, Ricky has accumulated $10,000 in credit card debt. He has missed several payments and now the annual interest rate on the card is 18.95 percent! If he pays $175 per month on the card, how long will it take Ricky to pay of..
Complete the statements before a major deadline. One other piece of good news-some financial ratios were calculated and you have a few other scraps of information.
Ecolap Inc. (ECL) recently paid a $0.42 dividend. The dividend is expected to grow at a 10.50 percent rate. The current stock price is $47.32. What is the return shareholders are expecting?
You have purchased 100 call options (1 contract) on shares of Freeport McMoran with a strike price of $70 and a maturity of today. The stock is trading at expiration at a price of $54.71. How much are your call options worth today?
Shock Electronics sells portable heaters for $35 per unit, and the variable cost to produce them is $22. Mr. Amps estimates that the fixed costs are $97,500. 1. Compute the break-even point in units. 2. Fill in the table (in dollars) to illustrate th..
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