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A couple will retire in 40 years; they plan to spend about $39,000 a year in retirement, which should last about 20 years. They believe that they can earn 8% interest on retirement savings.
a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 year. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Annual payment $ is ???
b. How would the answer to part (a) change if the couple also realize that in 15 years they will need to spend $69,000 on their child’s college education? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Avicorp has a $14.2 million debt issue? outstanding, with a 6.2% coupon rate. The debt has? semi-annual coupons, the next coupon is due in six? months, and the debt matures in five years. It is currently priced at 94% of par value. What is? Avicorp's..
A ten-year zero coupon bond with a face value of $1,000 is currently priced at 48.72% of the face value. Assume the bond's YTM remains unchanged throughout the bond's term to maturity. What should the bond be sold for three years from now?
ECB borrows $2000000 USDs by issuing 4-year bonds. ECB's cost of debt is 6%, so it will need to pay $120000 USDs in interest each year for the next 4 years, and then repay the principal $2000000 USD in year 4. ECB's marginal tax rate will remain 35 t..
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