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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of €1,000, 10 years to maturity, and a coupon rate of 6.4 percent paid annually
If the yield to maturity is 7.5 percent, what is the current price of the bond?
The Lo Sun Corporation offers a 6.0 percent bond with a current market price of $788.50. The yield to maturity is 8.40 percent. The face value is $1,000. Interest is paid semiannually. How many years is it until this bond matures?
Suppose that at time 0, the market price of a share of XYZ stock is $24.90, that the stock pays dividends at a continuous annual rate of 2.5%, and that the risk free annual interest rate with continuous compounding is 4.9%. A 3 month prepaid forward ..
The 2013 income statement of Southern Products, Inc., showed $3.2 million EBIT, $410,000 depreciation, $500,000 interest expenses, and its tax rate is 34%. If the firm's net capital spending for 2013 was $540,000, and the firm increased its net worki..
Quanisha has just become eligible to participate in her company's retirement plan. Her company does not match contributions, but the plan does average an annual return of 12 percent. Quanisha is 40 and plans to work to age 65. If she contributed $200..
A large retailer obtains merchandise under the credit terms of 3/20, net 40, but routinely takes 60 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's e..
Banks and other depository institutions make loans, invest in government securities, buy and sell federal funds, and accept deposits with a wide spectrum of maturities and with many payable on demand. Within this context, discuss the effect of differ..
An annuity stream of cash flow payments is a set of A. level cash flows occurring each time period for a fixed length of time. B. level cash flows occurring each time period forever. C. increasing cash flows occurring each time period for a fixed len..
N.Ebriate,a college student at a party university, decides to forego beer drinking and invest the $100 he saves at the end of each month in a mutual fund that is currently earning 18 percent annually. He has a job where he earns income and invests th..
Suppose the average return on an asset is 11.6 percent and the standard deviation is 21.2 percent. Further assume that the returns are normally distributed. Use the NORMDIST function in Excel to determine the probability that in any given year you wi..
Netscrape Communications does not currently pay a dividend. You expect the company to begin paying a $4.8 per share dividend in 14 years, and you expect dividends to grow perpetually at 6.3 percent per year thereafter. If the discount rate is 15 perc..
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 6 percent thereafter. If the required return is 12 percent, and the company just paid a di..
Kaylee wants to buy a machine shop on Beaumonde and someday retire from space flight. She purchases a contract to buy a little shop 14 years from today. At that time, it will be worth $10,000. What is the shop worth to Kaylee today? Kaylee has a disc..
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