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Tom Adams has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be $51,000. He will receive his first annual salary payment one year from the day he begins to work. In addition, he will get an immediate $20,000 bonus for joining the company. His salary will grow at 4 percent each year. Each year he will receive a bonus equal to 10 percent of his salary. Mr. Adams is expected to work for 30 years.
What is the present value of the offer if the discount rate is 8 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16)
Present value=
Calvani, Inc., has a cash cycle of 47 days, an operating cycle of 70 days, and an inventory period of 30.5 days. The company reported cost of goods sold in the amount of $349,000, and credit sales were $572,000. What is the company’s average balance ..
After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only person voting for you. Schenkel has 370,000 shares outsta..
You want to borrow $10,000 from your brother. He says if he charged you 7.2% that would be interest of $720 for the year. So in total you would pay him $10,720. So he tells you that you can pay $10,720/12 = $893.33 per month for 12 months that wou..
Explain the three different forms of the efficient markets hypothesis and discuss some of the implications of efficiency market theory for corporate financial policy.
You are considering two savings options that each provide a rate of return of 4.65 percent. The first option requires annual savings of $2,000, $2,500, and $3,000 over the next three years, respectively, with the first deposit due one year from today..
Describe a situation where somebody may need a mortgage, find a specific mortgage product, and describe why the mortgage might be a good fit for the potential borrower's situation. Please take the opportunity to have fun in finance.
All else equal, 20-year T-bonds have less price risk than 5-year T-bonds. All else equal, bonds with 5% coupon rate have more reinvestment rate risk than bonds with 10% coupon rate. All else equal, bonds with 5% coupon rate have less price risk than ..
How does a bond issuer decide on the appropiate coupon rate to set on bonds? Explain the difference between the coupon rate and the required rate of return on the bond. No plagirism please and include any references if you used them
Accounting is often described as "The Language of Business." Do you speak the language? Specify what you believe are the three most important financial ratios that might help you assess the strength of a firm. These ratios are listed towards the end ..
The Sooner Fracers Inc. is a new firm in a rapidly growing industry. The company will pay its first annual dividend in the amount of $0.20 per share in four years. Afterwards, the company increases its annual dividend by 20% a year for the next four ..
Which one of the statements about margin requirements on option positions is not correct?
A portfolio is invested 26 percent in Stock G, 41 percent in Stock J, and 33 percent in Stock K. The expected returns on these stocks are 9 percent, 11.5 percent, and 16.9 percent, respectively. What is the portfolio’s expected return?
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