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Bernie Madeoff pays $230,000 for a new? four-bedroom 2,400-square-foot home outside? Tonopah, Nevada. He plans to make a 20?% down? payment, but is having trouble deciding whether he wants a 15?-year fixed rate (6.396%) or a 30?-year fixed rate (6.877%) mortgage.
a. What is the monthly payment for both the 15?-and 30?-year mortgages, assuming a fully amortizing loan of equal payments for the life of the? mortgage?
b. Assume that instead of making a 20?% down? payment, he makes a 10?% down? payment, and finances the remainder at 7.121% fixed interest for 15 years. What is his monthly? payment?
c. Assume that the? home's total value falls by? 25%. If the homeowner is able to sell the? house, but now at the new home? value, what would be his gain or loss on the home and mortgage assuming all of the mortgage principal? remains? Use the same assumptions as in part a.
During a six-month period, a department has a planned stock turnover of 3.2 and planned sales of $230,000.
You have forty years until you retire. Today you have no investments. At the end of the year, you will make the first of 40 annual investments of $5,000 in an account that returns 6%, how much will you have on the day that you make the last of your f..
A bond sells for $925.36 and has a coupon rate of 7.60 percent. If the bond has 20 years until maturity, what is the yield to maturity of the bond? DuPont Identity: Jiminy Cricket Removal has a profit margin of 10 percent, total asset turnover of 1...
Expected Return Circuit City Stores (CC) recently paid a $.16 dividend. The dividend is expected to grow at a 23.00 percent rate. At the current stock price of $7.96, what is the return shareholders are expecting?
ABC Company's last dividend was $1.3. The dividend growth rate is expected to be constant at 9% for 3 years, after which dividends are expected to grow at a rate of 4% forever. The firm's required return (rs) is 13%. What is its current stock price (..
Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $19 million, of which 85% has been depreciated. The used equipment can be sold today for $6.65 million, and its tax rate is 35%. What is the equipment..
ou are introduced to convertible preferred stock in our final week. Let’s pretend we have the following information regarding a company that we are evaluating: Let’s assume that all shares were deemed to be converted as of the beginning of the year. ..
The following statement is true regarding depreciation:
AIM is considering purchasing an additive manufacturing system from for quick fabrication of custom replacement components.
Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $1.50 coming 3 years from toda..
Using a 50 basis-point change compute the duration of the equity (unlevered) portfolio.
Ben Saunders and Ashley Tinsdale are planning to get married in six months. Both are 30 years old have been out of college for several years. Ben uses three credit cards and has a bank account balance of $7,500 while Ashley only uses one credit card ..
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