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Michael wants to save in order to buy a house in 4 years which he estimates will cost $225,000. He has several sources of funds: I. His parents will give him $1,000 per quarter starting in 3 months, which will be deposited into an account paying 5% compounded quarterly. II. He will receive $5,000 from his Aunt's estate in one year's time which will be deposited into the same account as above.III. He currently has $15,000 cash in a bank account (same as above).IV. He will take out a mortgage at the time of purchase on which he'll make monthly payments of $1,000 over a 20 year amortization. He expects the interest rate on the mortgage at the time to be 4%.a) Calculate how much more Michael will need to have in 4 years in order to be able to purchase the house.b) To make up the shortfall, Michael will make monthly contributions to his investment account which earns 6% compounded annually. How much must he save each month to have enough to buy the house in 4 years' time?
Allegheny Publishing's stock is expected to give a year end dividend, D1, of $4. The dividend is expected to increase at a constant rate of 8% per year, and the stock's required rate of return is 12%.
Suppose that the United State places a strict quota on goods imported from Chile and that Chile does not retaliate. Holding other factors steady, this event should immediately cause the United State
Son will start college in five years. Expect college to cost $10,000 per quater, each quaters cost will be payable in advance, & he will attend college all year long. Expect him to complete college in five years.
Janson Bottle Corporation sold $400,000 in long-term bonds for $351,040. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10 percent.
What are the earnings per share and price-earning ratio before new shares are sold via the rights offering?
Describe the relationship between type of reward structure employed by an organization for its employees and employee effectiveness and work productivity.
Actual deferral percentage test for nondiscrimination in a 401(k) plan.
You need to create a portfolio with a duration of 6 years. You can use a 3 year zero-coupon bond and a perpetuity which pays $80 each and every year forever and has yield of 10%. how much of the porfolio value in percentage you would have to invest i..
Brandywine Homecare, a non-profit business, had revenues of 12 million dollar in 2007. Expenses other than depreciation totaled 75% of revenues, and depreciation expense was $1.5 million.
Compute the monthly mortgage payment made at the beginning of each month on a $100,000 mortgage.
In order to receive $12,000 at the end of three years and $10,000 at the end of five years, how much must be invested now if you can earn 14 percent rate of return?
Today, you sold 200 shares of SLG, Company stock. Your total return on these shares is 12.5 percent. You purchased shares one year ago at a price of $28.50 a share. You have received a total of $280 in dividends over the course of the year.
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