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1. If a loan is held to maturity, a prepayment penalty in a mortgage has the effect of ________ the APR.
Increasing
Decreasing
Doesn't affect
Cannot determine the effect
2. A borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5% and monthly payments. What portion of the first month’s payment would be applied to interest?
$694
$1,042
$1,342
$1,355
What is the present value (PV) of a loan that calls for the payment of $500 per year for six years if the discount rate is 10 percent and the first payment will be made one year from now? How would your answer change if the $500 per year occurred for..
A couple plans on refinancing their existing mortgage. They currently owe $150,000 (which represents 70% of the value of the house) with 15 years left on the loan and monthly payments of $1300. A new loan will be financed at the 15 year fixed rate fo..
With the price of the stock at $60 per share, a put option is purchased with an exercise price of $58 per share. The option is exercised after the stock is purchased at $52 per share and results in a gain of 50 percent. What was the price of the opti..
We have a firm whose ITO and ATO are 11 and 10 respectively and rising, while the industry’s are 4 and 3. Liquidity ratios are comparable to the industry. Net profit margin and gross profit margin are 1% and 2% respectively and slightly rising. The t..
Explain how each of the following affects corporate governance and whether the impact is positive or negative.
Critically reflect on the importance of selecting the right projects in which to invest capital. Do we always select those projects that have highest return on investment? What other factors play into capital budgeting decisions?
Do people trust ankles to do what is right? A survey done in the United States and Japan revealed that, of 500 respondents in the United States, 250 said that they trusted banks to do what is right; in Japan, of 200 respondents, 120 said that they tr..
The common stock of PQR Inc. is expected to pay a dividend of $15 for each share exactly one year from now. Given the risk of the stock, the market requires a rate of return of 22%. The dividends are expected to grow in perpetuity at a constant rate ..
Potz and Pans, a small gift shop, has current assets of $45,000 (including inventory valued at $30,000) and $9,000 in current liabilities. WannaBees, a specialty clothing store, has current assets of $150,000 (including inventory valued at $125,000) ..
You just purchased a corporate bond that matures in 5 years, has an 8% coupon, and has a current yield of 8.21%. What is the bond's yield to maturity? A corporate bond that matures in 7 years sells today for $1,020 and has a yield to maturity of 10.5..
You have secured a loan from PNC Bank for two years to build a new business location. The terms of the loan are that you will borrow $125,000 now and an additional $25,000 in one year. Interest of 10 percent APR will be charged on the balance monthly..
Analyze and report the importance of each of the following elements in forming a corporation. Corporation as a Legal Person. Differences among Domestic, Foreign, and Alien types of corporations. Selecting a name for a corporation. Selecting a state t..
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