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A reverse annuity mortgage is made with a balance not to exceed $300,000 on a property now valued at $700,000. The loan calls for monthly payments to be made to the borrower for 120 months at an interest rate of 11% MEY. a. [3] What will the monthly payments be? b. [3] What will the RAM balance be at the end of year 3? c. [4] Assume that the borrower must have monthly draws of $2,000 for the first 50 months of the loan. The remaining draws from months 51 to 120 must be determined so that the $300,000 maximum is not exceeded in month 120. What will the draws by the borrower be during months 51 to 120? d. [2] Suppose property experiences a 1% appreciation (MEY, starting today), and the borrower has a balance of $300,000 at year 10 (by receiving payments computed in a). No payments are made thereafter. How many years from loan closing will the loan balance begin to exceed the house value?
Arbitrage Financial is offering two possible investments with the same level of risk.
An analysis of last year's financial statements produced the following results. Use the following data to compute the comparable financial ratios for next fiscal year. Has the firm's financial position changed?
Fly Away, Inc., has balance sheet equity of $6.8 million. At the same time, the income statement shows net income of $836,400. The company paid dividends of $414,018 and has 200,000 shares of stock outstanding. If the benchmark PE ratio is 32, what i..
Here is a list of transactions for a newly-formed corporation that provides professional tax services: Organized the business as a professional corporation, investing $28,000 cash in the business and issuing 1,000 shares of no-par common stock. Recei..
Susan will start attending college in September 2024 at which time she will need $12,000 for the first year of study. Her costs at college for the next three years are estimated at $14,000, $16,000, and $18,000, respectively. What is the size of the ..
What factors have contributed to the rapid growth in the CDS market and Describe two strategies the company can use to hedge itself against defaults.
If the sales data from 2009-2013 had been 1024, 1499, 1589, 1823, and 1950 using linear regression - what would the projected sales figure for 2014 be? What assumption is made when you use Linear Regression for projecting next year's sales? Is this a..
The closest approximation to the real, risk-free rate of interest is
In January 2007, the average price of an asset was $28,658. 7 years earlier, the average price was $20,808. What was the annual increase in selling price? In percentage form
Reynolds Enterprises is attempting to evaluate the feasibility of investing $85,000 in a machine having a 5-year life. Calculate the payback period for the proposed investment. Calculate the NPV for the proposed investment. Calculate the IRR for the ..
Nielson Motors is considering an opportunity that requires an investment of $1,000, 000 today and will provide $250,000 one year from now, $450,000 two years from now, and $650,000 three years from now.
John purchased 100 shares of Black Forest Inc. stock at a price of $153.77 three months ago. He sold all stocks today for $161.14. During this period the stock paid dividends of $4.02 per share. What is John’s annualized holding period return (annual..
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