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1.mortgage has 25 years left, and has an APR of 7.625% with monthly payments of $1449.
a. What is the outstanding balance?
b. Suppose you cannot make the mortgage payment and you are in danger of losing your house to foreclosure. The bank has offered to renegotiate your loan. The bank expects to get $150,000 for the house if it forecloses. They will lower your payment as long as they will receive at least this amount (in present value terms). If current 25-year mortgage interest rates have dropped to 5% (APR), what is the lowest monthly payment you could make for the remaining life of your loan that would be attractive to the bank?
2.You have an outstanding student loan with required payments of $500 per month for the next four years. The interest rate on the loan is 9% APR (monthly). You are considering making an extra payment of $100 today (that is, you will pay an extra $100 that you are not required to pay). If you are required to continue to make payments of $500 per month until the loan is paid off, what is the amount of your final payment? What effective rate of return (expressed as an APR with monthly compounding) have you earned on the $100?
3.Consider again the setting of Problem 18. Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month. Looking at your budget,you can afford to pay an extra $250 per month in addition to your required monthly payments of $500, or $750 in total each month. How long will it take you to pay off the loan?
Computation of gain or loss on sale of investments and Journal entries to record purchase & sale of company's Common & Treasury stocks
New stock can be sold to the public at the current price, but a flotation cost of 5% would be incurred. What would be the cost of equity from new common stock?
christina haley of san marcos texas age 61 recently suffered a severe stroke. she was in intensive care for 12 days and
imagine that you have decided you need a new car but not any car will do you have decided to purchase the car of your
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flagstad inc. presented the following data.net income ..........................................2500000preferred stock
A Treasury bond that matures in 10 years has a yield of 6%. A 10-year corporate bond has a yield of 9%. Assume that the liquidity premium on the corporate bond is 0.4%. What is the default risk premium on the corporate bond? Round your answer to t..
How large a mortgage can you afford according to the calculator? Increase your debt to see the impact on the amount of mortgage loan you will qualify for.
A 5.85 percent coupon bond with 18 years left to maturity is offered for sale at $1,055.25. What yield to maturity is the bond offering? (Assume interest payments are semiannual.)
Describe Decision making based on NPV of capital project and calculate the present value of the salary differential for completing the certification pro-gram
A Corporation is unlevered, zero growth firm with expected EBIT of $4 million and corporate tax rate of 40% Find out the optimal debt level according to MM with corporate taxes (with no financial distress)?
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