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Friendly’s Quick Loans, Inc., offers you “eight for ten or I knock on your door.” This means you get $8.00 today and repay $10.00 when you get your paycheck in one week (or else).
If you were brave enough to ask, what APR would Friendly’s say you were paying? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16)
APR=
What’s the effective annual return Friendly’s earns on this lending business? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16)
EAR=
You decided to buy Treasury bill futures contracts with a quoted price was 96-50. When you close this position, the quoted price was 95-25. Determine the profit or loss per contract, ignoring transaction costs.
You own a lot in Key West, Florida, that is currently unused. Similar lots have recently sold for $1,260,000. Over the past five years, the price of land in the area has increased 8 percent per year, with an annual standard deviation of 37 percent. W..
Suppose you are still committed to owning a $150,000 Ferrari. If you believe your mutual fund can achieve a 10.25% annual rate of return, and you want to buy the car in 10 years on the day your turn 30, how much must you invest today?
Discuss the pros of full financial disclosure. You must take a position advocating full disclosure and why this is beneficial for the marketplace and the economy or a position arguing that the associated costs of full disclosure outweigh its benefits..
Maggie's Muffins, Inc., generated $2,000,000 in sales during 2013, and its year-end total assets were $1,600,000. Also, at year-end 2013, current liabilities were $1,000,000, consisting of $300,000 of notes payable, $500,000 of accounts payable, and ..
John Friedman is in the 40 percent personal tax bracket. He is considering investing in HCA bonds that carry a 12 percent interest rate. What is his after-tax yield (interest rate) on the bonds?
Which of the following is not a true statement about mutual funds?
MMK Cos. normally pays an annual dividend. The last such dividend paid was $1.55, all future dividends are expected to grow at a rate of 8 percent per year, and the firm faces a required rate of return on equity of 14 percent. If the firm just announ..
The fully-indexed rate on a 5/1 ARM with a maturity of 30 years is determined by the yield on the one-year LIBOR plus a margin of 250 basis points. If the fully-indexed (composite) rate is currently 6%, what is the current yield on the one-year LIBOR..
You buy a zero coupon bond at the beginning of the year that has a face value of $1,000, a YTM of 12 percent, and 16 years to maturity. You hold the bond for the entire year. How much interest income will you have to declare on your tax return? What ..
Suppose Hillard Manufacturing sold an issue of bonds with a 10-year maturity, a $1,000 par value, a 10% coupon rate, and semi annual interest payments. Two years after the bonds were issued, the going rate of interest on bonds such as these fell to 6..
Explain the difference between a channel of distribution and physical distribution. What are the different methods for computing operating cash flow, and when are they important? What is volatility, how is it measured and why is it important to under..
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