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You plan to purchase a house for $115,000 using a 30 year mortgage pbtained from your local bank. You will make a down payment of 20 percent of the purchase price. You will not pay off the mortgage early.
A) Your bank offers you the following two options for payment:
Option 1: Mortgage rate of 9% and 0 points
Option 2: Mortgage rate of 8.85% and 2 points.
Which option should you choose
B) Your bank offers you the following two options for payment:
Option 1: Mortgage rate of 10.25% and 1 point
Option 2: Mortgage rate of 10% and 2.5 points.
Which option should you choose?
Jimmy wants to purchase a new set of bucket seats for his van. He has bad credit, so he finds a place that will sell him the seats via an add-on loan. The seats cost $900 total. Jimmy in willing to pay up to $90 per month for one year for these seats..
The Zecor Company has warrants outstanding with an exercise price of $45. The warrants have a market price of $21. Zecor's common stock is currently selling at $52 per share. How many shares of stock can be purchased with this warrant? Show work.
Jackson 5 industries decided to pay a $4 dividend in one year and the stock is currently trading at $22.18. The firm expects dividends to grow at 20% for the next three years it pays dividends. What is the required rate of return for jackson 5 indust..
Consider a 10-year project with the following information: initial fixed asset investment = $340,000; straight-line depreciation to zero over the 10-year life; zero salvage value; price = $39; variable costs = $15; fixed costs = $163,200; quantity so..
Will Corporation has two over’s, Gus and Jack who are father and son. Gus owns 100 shares which he acquired in 2005 for 15,000. Jack owns 100 shares which he acquired in 2007 for 21,000. Will Corp. accumulated E and P is identical to GAAP retained ea..
Bilbo Baggins wants to save money to meet three objectives. First, he would like to be able to retire 30 years from now with retirement income of $27,500 per month for 25 years, with the first payment received 30 years and 1 month from now. If he ca..
What taxable yield is equivalent to a municipal bond yield of 5.8 percent if a taxpayer has a marginal tax rate of 43 percent?
You buy a share of The Ludwig Corporation stock for $18.75. You expect it to pay dividends of $1.70, $1.802, and $1.9101 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $26.22 at the end of 3 years. Calculate the expected ..
General Electric has just issued a callable (at par) ten-year 8% coupon bond with annual coupon payments. The bond can be called at par in one year or anytime thereafter on a coupon payment date. It has a price of $104 and a face value of $104. What ..
Before finalizing these plans, two stores were remodeled as a test. Lisa Lee, assistant controller, was asked to oversee the financial reporting for these test stores, and she and other management personnel were offered bonuses based on the sales gro..
The role of banks in the financial services industry has changed dramatically. Banks have become financial department stores, providing all kinds of financial services, including security brokerage services. Do you think that additional legislation i..
LKD Co. has 14 percent coupon bonds with a YTM of 8.9 percent. The current yield on these bonds is 9.5 percent. How many years do these bonds have left until they mature?
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