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Cull Incorporated recently borrowed $250,000 from Century Bank when the prime rate was 4%. The loan was for 90 days with interest to be paid at the end of the period with a rate fixed at 1.5% above the prime rate. What is the total interest paid on this loan and what is the effective annual rate? (Assume a 365 day year.)
A) The total interest paid is $3390.41 and the effective annual rate is 5.62%.B) The total interest paid is $13,750 and the effective annual rate is 5.62%.C) The total interest paid is $13,750 and the effective annual rate is 5.55%.D) The total interest paid is $3390.41 and the effective annual rate is 1.36%.
Suppose you are an analyst studying Beranek Technologies, which was founded ten years ago. It has been profitable for the last five years, but it has needed all of its earnings to support growth and thus has never paid a dividend.
The relationship between risk and expected return is typically described as linear (e.g. the Security Market Line or SML). What is the relationship in terms of the slope of the SML? Why is this important?
Eleanor Spryzak has endowed her alma mater with a scholarship that is designed to pay out a sum of money to a worthy student every year forever.
Top management of the Gates Company is trying to create a performance evaluation system to use to evaluate each of its three divisions.
Lacey's has an average collection period of 32 days and factors all of its receivables immediately at a 1.1 percent discount. Assume all accounts are collected in full. What is the firm's effective cost of borrowing?
The present value of the following cash flow stream is $5,744 when discounted at 12 percent annually. The value of the missing cash flow is;
X-1 Corp's total assets at the end of last year were $380,000 and its EBIT was 52,500. What was its basic earning power (BEP) ratio?
Why is Amazon's cash cycle so much shorter than that of competitor Barnes & Noble? How does this comparison affect financial management decisions of other retailers?
You want to bank enough money to pay for 4 years of college at $20,000 per year for your child. The savings account will pay an effective rate of 5% per year.
A stock is selling today for $20 per share. At the end of the year, it pays a dividend of $2 per share and sells for $23.
The Jon's Shoe corporation, whose common stock is currently selling for $40 each share, is expected to pay a $2.00 dividend in the coming year. If investors believe that the expected rate of return on XYZ is 14 percent,
How much in new fixed assets are required to support this growth in sales? Assume the company maintains its current operating capacity.
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