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A savings institution (SI) has funded $12 million of 30-year fixed-rate mortgages with an average interest rate of 5.75%. These assets are funded with time deposits with an average maturity of six months. The deposits are currently paying 3.50%. In six months' time, however, the Fed has raised interest rates twice and the depositors now must be paid 4.25% a) What will happen to the SI's ROA and NIM? *Explain and show effects on ROA and NIM* b) How would your answer change if the SI normally sells the mortgages every 6 months and originates additional new mortgage loans? *Explain and show this effect*
At year-end 2013, Wallace Landscaping’s total assets were $1.8 million and its accounts payable were $450,000. Sales, which in 2013 were $2.1 million, are expected to increase by 20% in 2014. Total assets and accounts payable are proportional to sale..
We are evaluating a project that costs $816,000, has a 12-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 83,000 units per year. Price per unit is $40, variab..
Compute the approximate internal rate of return (IRR) of the following investment project:
To calculate the number of years until maturity, assume that it is currently May 2013. Rate Maturity Mo/Yr Bid Asked Chg Ask Yld ?? May 24 103.5514 103.6396 +.3067 2.409 5.424 May 29 104.5004 104.6461 +.4341 ?? 6.183 May 39 ?? ?? +.5457 4.111 Require..
Interior Investors, Inc. has declared a cash dividend of $1.20 to be paid to holders of record on Wednesday, June 19th. What is the last day an investor can purchase XYZ stock and still receive the dividend? On what day does this stock start trading ..
What stakeholders benefit from reviewing profitability ratios for a company? Identify at least three stakeholder groups, and give an example of how each might use profitability ratios.
Suppose a corporation sells 5,000 units of a product each year at a price per unit of $380. All sales are on credit with terms of 1/10, net 30. The discount is taken by 35 percent of the customers. What is the amount of the company’s accounts receiva..
Given a company's pressure to meet earnings forecast, discuss how earnings manipulation is most likely to occur.
A company estimates its cost of vendor financing (using its vendor as its banker) is 12.2%. It also estimates its effective cost of bank financing to be 9.1%. Which statement best describes this situation?
Prepare an amortization schedule for a 10-year loan of $150,000. The interest rate is 8% per year, and the loan calls for equal annual payment. How much interest is paid in the eighth year? How much total interest is paid over the life of the loan?
A bond with a $1,000 par value has an 8 percent annual coupon rate. It will mature in 4 years, and annual coupon payments are made at the end of each year. Present annual yields on similar bonds are 6 percent. What should be the current price? A bond..
A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 4.4%. What is the standard devia..
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