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Pat Davis runs a summer camp for kids with the average expenses in each month as shown below. The camp uses a savings account for all funds that pays interest of 1.00% nominal annual rate with monthly compounding. Pat is getting older and wants to fund the camp in perpetuity by investing in a fund that earns 6% NAR compounded monthly. A single amount is to paid out of the fund each year to cover the year's expenses. How much would have to be in the fund?
Month Expenses Jan $5,000 Feb $5,000 Mar $5,000 Apr $10,000 May $10,000 Jun $25,000 Jul $40,000 Aug $35,000 Sep $10,000 Oct $5,000 Nov $5,000 Dec $5,000 s
You deposit a sum of $10,000 today in your bank safe deposit box and leave it there. You learn nothing in your bank account as the money is sitting inside the safe deposit box. Assumes that inflation rate is running at 14% a year. How much will your ..
Marcia executed a mortgage of Blackacre to secure her indebtedness to Ajax Savings and Loan Association in the amount of $125,000. Later, Marcia sold Blackacre to Morton. The deed contained the following provision: “This deed is subject to the mortga..
Community Hospital is a nonprofit, general acute-care hospital located in a wealthy suburb of City. Last year, it reported revenues of $100 million, and a “profit” (net revenues in excess of expenses) of $12 million. The cost (essentially the pro-ra..
Equipment costing $20,000 that is a MACRS 3-year property is disposed of during the second year for $12,000. Calculate any depreciation recapture, ordinary losses, or capital gains associated with disposal of the equipment.
Assume that the cost of carrying silver includes storage costs. On March 17, 2015 the May 2015 futures contract settled at $ 15.578 per ounce (assume it is a 2-month contract), spot traded at $ 15.562 per ounce. Storage costs per ounce are about 0.2%..
Emily Dorsey's current salary is 85000 per year and she is planning to retire 17 years from now. She anticipated that her annual salary will increase by 4000 each year (85000 the first year, 89000 the second, 93000 the third year, and s forth) and sh..
Calculate the value of the firm and analysts now expect that dividends will grow annually by 3%. Calculate the firm value."
Fly Away, Inc., has balance sheet equity of $5.3 million. At the same time, the income statement shows net income of $763,200. The company paid dividends of $431,208 and has 120,000 shares of stock outstanding. If the benchmark PE ratio is 17, what i..
In addition to project selection, what other decisions can capital budget techniques help managers with?
Caan Corporation will pay a $2.78 per share dividend next year. The company pledges to increase its dividend by 4.5 percent per year indefinitely. If you require a return of 15 percent on your investment, how much will you pay for the company’s stock..
If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years? 4-2 What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 7% annually? 4-12 F..
What determines the intrinsic value of a financial security (ie. a stock, bond, etc)? - How is the intrinsic value arrived at? (ie. What kind of assumptions are required?) - How do we explain why analysts can come up with different valuations for the..
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