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Consider a 7.80 percent coupon bond with eight years to maturity and a current price of $944.70. Suppose the yield on the bond suddenly increases by 2 percent.
1. Use duration to estimate the new price of the bond. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Price $
2. Calculate the new bond price. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Richmond Corporation was founded 20 years ago by its president, Daniel Richmond. The company originally began as a mail-order company but has grown rapidly in recent years, in large part due to its Web site. Because of the wide geographical dispersio..
Lane, Inc., has an issue of preferred stock outstanding that pays a $6.55 dividend every year in perpetuity. If this issue currently sells for $91 per share, what is the required return?
Assume that the? risk-free rate, Rf, is currently 6?% and that the market? return,rm?, is currently 11?%. Calculate the market risk premium.
What would be your remaining debt at the end of two years of these payments?
Beverly and Kyle Nelson currently insure their cars with separate companies, paying $580 and $615 a year. If they insured both cars with the same company, they would save 20 percent on the annual premiums. What would be the future value of the annual..
A wealthy philanthropist has established the follo... Save A wealthy philanthropist has established the following endowment for a hospital. The details are as follows: a cash deposit of $ 10 M one year from now; an annual cash deposit of $5M per year..
Prepare the first row of a loan amortization schedule based on the following information. What portion of this payment is Interest?
For stocks that don’t pay dividends, describe one method that could be used to estimate their prices?
Jimmy, a self-employed individual, is opening a retirement account at a bank. His goal is to accumulate $1,000,000 in the account by the time he retires from work in 20 years’ time. What should be the size of his first deposit (A1)?
RAK, Inc., has no debt outstanding and a total market value of $200,000. Earnings before interest and taxes, EBIT, are projected to be $30,000 if economic conditions are normal. Calculate percentage change in EPS when the economy expands or enters a ..
A small company wishes to set up a fund that can be used for technology purchases over the next 6 years. Their forecast is for $18,000 to be needed at the end of year 1, decreasing by $2,000 each year thereafter. The fund earns 9% per year. How much ..
Royal Road Company, Inc. wants to increase its debt by selling bonds to $ 900 par value with a coupon interest of 13% to 10 years, in which they will be paying annual interest. To make the sale, a $ 30 bonus will be offered. Costs incurred in this is..
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