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1. Kendall borrows $100,000 on Jan 1, 1993 to be repaid in 12 annual installments at an effective annual rate of interest of 8%. The first payment is due on Jan 1, 1994. Instead of annual payments she decides to make monthly payments equal to one-twelfth the annual payment beginning on Feb 1, 1993. Determine how many months will be needed to pay off the loan.
2. Tom has served in the Navy for 21 years and plans to retire sometime in the future. Every three years he has received a re-enlistment bonus and deposited a certain dollar amount, X, in an account for when he retires. After making his current deposit, the value of his account is $180,176. Assuming an annual effective interest rate of 9%, what were his tri-annual deposits?
Holyrood Co. just paid a dividend of $2.10 per share. The company will increase its dividend by 20 percent next year and will then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent divi..
A 700 par value 5 year 10% bond with semiannual coupons is purchased for 670.60. The present value of the redemption is 372.05. Calculate the redemption value.
Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.94 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be w..
Nations Shipping determined the rate to apply overhead based on direct labor hours would be $8. 40, and based on machine hours would be $5. 20. Job 43D used $12. 40 of direct materials, 0. 46 machine hours, and 18 minutes of direct labor at a cost of..
An investor sold seven contracts of June/2012 corn. The price per bushel was $1.64, and each contract was for 5000 bushels. The initial margin deposit is $2000 per contract with the maintenance margin at $1250. How much did the investor have to depos..
Which of the following best describes investment risk?
Choose the legal form of organization for the business, and support your choice. Determine the organization structure which is initially needed to get the business operating, including the number of people necessary to get through the first year of o..
Illinois Industries has decided to borrow money by issuing perpetual bonds with a coupon rate of 9.5 percent, payable annually. The one-year interest rate is 9.5 percent. Next year, there is a 45 percent probability that interest rates will increase ..
Gregg Company recently issued two types of bonds. The first issue consisted of 20-year straight (no warrants attached) bonds with an 10% annual coupon. The second issue consisted of 20-year bonds with a 7% annual coupon with warrants attached. Both b..
Income and Expenditure Account for the year and statement of Financial Position as at 30th April 2012
One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $796 per month. You will charge 1.8 percent per month interest on the overdue balance. If the current balance is $15262, how many m..
At December 31, 2014, Navaro Corporation reported the following plant assets. Record adjusting entries for depreciation for 2015. Prepare the plant assets section of Navaro’s balance sheet at December 31, 2015.
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