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Casey’s One Stop has been approved for a $157,500 loan commitment from its local bank. The bank has offered the following terms: term = one year, up-front fee = 75 basis points, back-end fee = 40 basis points, and rate on the loan = 6.75 percent. Casey’s expects to immediately take down $152,000 and no more during the year unless there is some unforeseen need. Calculate the total interest and fees Casey’s One Stop can expect to pay on this loan commitment. (Round your answer to 2 decimal places.)
Total Interest and fees?
A credit card is offered with monthly payments and a 21.99% APR. What is the loan's effective annual rate (EAR)?
The Berndt Corporation expects to have sales of $15 million. Costs other than depreciation are expected to be 70% of sales, and depreciation is expected to be $2.25 million. Suppose Congress changed the tax laws so that Berndt's depreciation expenses..
Antiques “R” Us is a mature manufacturing firm. The company plans to pay an $8 dividend next year, but management expects to reduce the payout by 7 percent per year, indefinitely. If you require a 13 percent return on this stock, what will you pay fo..
Moby Dick Corporation has sales of $4,635,480 income tax of $400,651; the selling general and administrative expenses of $294,228; depreciation of $395,852; cost of goods of $2,543,550; and interest expense of $188,723. Calculate the amount of the fi..
In each of the following financial situations, fill in the blank with the terms high duration, low duration, or zero duration, as appropriate. a. If you were considering buying a bond and you expected interest rates to increase, you would prefer a bo..
What was its liabilities-to-assets ratio, in book and market value? - What was its financial-debt-to-capital ratio, in book value and market value?
Fran, Joe, and Mike formed a general partnership to operate a flower shop called Fresher Flowers. One of Fran’s jobs is to make deliveries using the partnership truck. In one such delivery, Fran negligently ran a stop sign, striking a car driven by P..
Mullineaux Corporation has a target capital structure of 65 percent common stock, 5 percent preferred stock, and 30 percent debt. Its cost of equity is 11 percent, the cost of preferred stock is 5 percent, and the pretax cost of debt is 7 percent. Wh..
Find the present value of $800 due in the future under each of these conditions: 15% nominal rate, quarterly compounding, discounted back 10 years. Round your answer to the nearest cent.
What is the probability that a randomly selected family of four spends less than $480 per month? (Round your answer to 4 decimal places.)
Orange Inc. has just signed up for a lockbox. Management expects the lockbox to reduce the mail float by 1.8 days and processing time by 1 day. The firm's remittances average $155,250 a day, with the average check being $880. The bank charges $0.32 p..
The Timber Ridge Company has the following relationships: Sales/Total assets = 3.55; ROA = 0.0930 What is Timber Ridge’s net profit margin?
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