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Suppose you borrow $20,000 at an effective period rate of i. The loan will be paid back with 20 payments at the end of each period. Each payment will consist of $1,000 plus the interest owed for that period. For example, the first payment will be $1,000 + $20,000i. Show that the present value of these payments at interest rate i is $20,000.
Given: $140.10 per month; cash price $5,600; down payment $0 Cash or trade months with bank-approved credit; amount financed $5,600 Finance charge $2,806 Total payments $8,406 (Use the tables in the handbook.) The APR by table lookup is:
It takes Cookie Cutter Modular Homes, Inc., about six days to receive and deposit checks from customers. Cookie Cutter’s management is considering a lockbox system to reduce the firm’s collection times. What is the reduction in outstanding cash balan..
The marketing department at Cable TV (CTV) wants to know how promotional advertising affects the number of viewers for the Saturday Night Movie. Research shows that 10 million viewers watched the movie when CTV ran 15 one-minute ads on Friday. When t..
John Davis, a professional dentist, raises horses under circumstances that would indicate that the activity is a hobby. His adjusted gross income for the year is $100,000, and he has $2,000 of other miscellaneous itemized deductions, all of which are..
A bond currently sells for $887 even though it has a par of $1,000. It was issued two years ago and had a maturity of 10 years. The coupon rate is 7% and the interest payments are made semi annually. What is its YTM?
What is the fundamental weakness of the GAP ratio as compared with GAP as a measure of interest rate risk?
A firm in truely competitive industry is confronted with an EQ price of $5, its marginal revenue:
USF Inc. issued a 20 year bond at a coupon rate of 7.0 percent. The bond makes semi-annual payments and has a par value of $1000. If the YTM on this bond is 6.0 percent, what is the bond's current price?
The owners of a chain of fast-food restaurants spend $3600000 installing donut makers in all their restaurants. This is expected to increase cash flows by $1300000 per year for the next 6 years. The discount rate is 9%. What is the net present value ..
A financial institution is permitted to use leverage u to a maximum debt equity ratio of 20. Currently the bank finances its $100 of assets with $4.5 of equity and $95.5 of debt. If asset values fall to $91 the bank will have a capital shortage of $9..
The risk-free interest rate is 8% per annum with continuous compounding. - What is the value of a 1-year European call option with a strike price of $100?
A project offers a net return of $25 for an investment of $1,000. What is the rate of return? - Is 10 the same as 1,000%?
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