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Briana recently received a credit card with a 14.6 percent nominal interest rate that is compounded monthly. With the card, she purchased a new MacBook Air for $965. The minimum payment on the card is $19 per month.
a. If she makes the minimum payment of $19 per month and makes no other charges, how long will it be before she pays off the card? Round to the nearest month.
b. If she makes the minimum payment of $38 per month how long will it take her to pay off the debt? Round to the nearest month.
Calculate NPV for each computer over its life. Rank the computers in descending order, based on NPV.- Use the equivalent annual cost (EAC) method to evaluate and rank the computers in descending order, based on EAC.
A manufacturer of aerospace products acquired a new multispindle, multi-turret turning center for $250,000. The machine will generate new revenue of $80,000 per year. Operating costs for the machine will average $10,000 per year. Suppose that the est..
What is the annual rate of return on an investment in a common stock that cost $40.50 if the current dividend is $1.50 and the growth in the value of the shares and the dividend is 8 percent?
Is there a limit to the amount of interest that you can get? Consider the case of investing $1 at 100% interest for 1 year. Your interest calculation is $1 if the interest is computed at the end of the year (simple interest). When your bank does calc..
Prepare journal entries to record the following transactions related to long-term bonds of Alpha Co. On November 1, 2014, Alpha issued $1,000,000 10% bonds at 98. Interest is payable annually on November 1, and the bonds mature on November 1, 2024 On..
The prices of a certain security follow a geometric Brown- ian motion with parameters μ = 0.12 and σ = 0.24. If the security’s price is presently 40, what is the probability that a call option, having four months until its expiration time and with a ..
The treasurer of your company has instructed you to establish a $10,000,000 line of credit for your business. You have contacted three banks with the following loans available. The current prime rate is 6%. Find the effective interest rate for each l..
Rank these investments based on their NPVs.- Rank these investments based on their IRRs.- Why do these rankings yield mixed signals?
Two alternative investment proposals are under consideration for a vacant owner by Urban Development Corporation. Plan A would require an immediate investment of $120,000 and first-year expenditure for property taxes, maintenance, and insurance of $4..
Find the price of the following Bond X The interest rate on the bond is 8%, paid semi-annually and the market yield is 9%. The maturity is 10 years
You figure that the total cost of college will be $100,000 per year 18 years from today. If your discount rate is 8% compounded annually, what is the present value today of four years of college costs starting 18 years from today? (Round to the neare..
You were hired as a consultant to Keys Company, and you were provided with the following data: Target capital structure: 30% debt, 15% preferred, and 55% common equity. The after-tax cost of debt is 4.50%, the cost of preferred is 8.00%, and the cost..
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