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In five years, you plan on starting graduate school to earn your MBA. You know that graduate school can be expensive and you expect you will need $15,000 per year for tuition and other school expenses. These payments will be made at the BEGINNING of the school year. To have enough money to attend graduate school, you decide to start saving TODAY by investing in a money market fund that pays 4% APR with monthly compounding. You will make monthly deposits into the account starting TODAY for the next five years. How much will you need to deposit each month to have enough savings for graduate school? (Assume that money that is not withdrawn remains in the account during graduate school and the MBA will take two years to complete.)
A bond that returns 4% annually and matures in 6 years. If you purchased the bond during the IPO at par, and similar bonds in today’s market are returning only 3% annually, what is the total yield of the investment?
You just purchased a bond that matures in 15 years. The bond has a face value of $1,000 and has an 8% annual coupon. The bond has a current yield of 8.37%. What is the bond's yield to maturity?
Suppose that in a certain defined benefit pension plan
You are considering a 20-year, $1,000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 8.84%, how much should you be willing to pay for the bond?
Senior managers of the subsidiary are employees of Qing Corporation who have been transferred to the subsidiary for a tour of international service. Is the functional currency of the subsidiary the peso or the U.S. dollar? Explain your reasoning
McCue Inc.'s bonds currently sell for $1,250. They pay a $90 annual coupon, have a 25-year maturity, and a $1,000 par value, but they can be called in 5 years at $1,050. Assume that no costs other than the call premium would be incurred to call and r..
At year’s end your company has cash of $10,500, receivables of $49,900, inventory of $40,200, and prepaid expenses totaling $5,900, Liabilities of $56,500 must be paid next year. A year ago receivables stood at $68,100, and sales for the current year..
DMA Corporation has bonds on the market with 18.5 years to maturity, a YTM of 6.5 percent, and a current price of $1,048. The bonds make semi annual payments and have a par value of $1,000. What must the coupon rate be on these bonds?
Warner associates are forecast to grow by 100% in the first year and 50% in the second year. Afterward, it will grow by a rate that is known only indirectly. Its ROE is .2 and its retention rate is 30%. Furthermore, its unlevered beta is 1, tax rate ..
Calculate the yield to maturity of the bond - The price of long-term bonds fluctuates more than the price of short-term bonds for a given change in interest rates (assuming that the coupon rate is the same for both).
Suppose you’re evaluating three alternatives MMMF in- vestments. The first fund buys a diversified portfolio of municipal securities from across the country and yields 3.2 percent. The second fund buys only taxable, short-term commercial paper and yi..
A STRIPS traded on May 1 2013, matures in 18 years on May 1 2031. Assuming a 6.1 percent yield to maturity, what is the STRIPS price?
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