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Meals for the Homeless usually experiences seasonality in its cash balances. In December, contributions from donors increase its cash balances, and then these balances are used throughout the following year. By the fall, Meals for the Homeless has a tight cash flow. It has a line of credit with its bank, which allows it to draw up to $500,000 at seven percent interest per year. During 2013, Meals for the Homeless draws down $135,000 on October 1 and repays it at the start of business on January 3, 2014—exactly 94 days later. How much should it pay back on January 3, and how much of that is interest?
You buy a 9-year $1,000 par value 3.70% annual-payment coupon bond priced to yield 5.70%. You do not sell the bond at year-end. If you are in a 15% tax bracket, at year-end you will owe taxes on this investment equal to _______.
How might a bank adjust its credit policies if the area expierneces a sudden or dramatic downturn? Suggest two adjustments the bank should make when applying the five C's of credit in such a situation.
Jiminy’s Cricket Farm issued a bond with 15 years to maturity and a semiannual coupon rate of 10 percent 4 years ago. The bond currently sells for 91 percent of its face value. The company’s tax rate is 38 percent. What is the company’s total book va..
Briefly discuss the four levels of corporate responsibility using Carroll's Global Corporate Social Responsibility pyramid.
Suppose a bond which makes annual coupon payments has a coupon rate of 10 percent and 5 years to maturity. You wish to purchase one of these bonds and you require an 11 percent return on your investment. What price should you be willing to pay for th..
Clint Wade owns 70 percent of the stock of Knock-Down Inc., a demolition and gravel supply company. The remaining 30 percent of the stock is owned in equal shares by three of the key managers of the business. The agreement gives all the shareholders ..
The yield to maturity (YTM) on 1-year zero-coupon bonds is 7% and the YTM on 2-year zeros is 8%. The yield to maturity on 2-year-maturity coupon bonds with coupon rates of 11% (paid annually) is 7.7%. What is the profit on the activity?
Sarah wants to go buy a house in Hawaii 15 years from now. She estimates she'll need $400,000 at that time to make this purchase. She plans to save each month at the end of the month for the next 15 years, and invest it at a rate of 8% a year, compou..
An investor purchases a stock for $45 and a put for $.85 with a strike price of $41. The investor sells a call for $.85 with a strike price of $54. What is the maximum profit and loss for this position? (Loss amount should be indicated by a minus sig..
“Before there was Paris Hilton, there was Consuelo Vanderbilt Balsan – a Gilded Age heiress and socialite, re-nowned for her beauty and wealth. Now Ms. Balsan’s onetime Hamptons home is slated to hit the market priced at $28 million with Tim Davis of..
Last year Joan purchased a $1,000 face value corporate bond with an 9% annual coupon rate and a 10-year maturity. At the time of the purchase, it had an expected yield to maturity of 9.28%. If Joan sold the bond today for $972.96, what rate of return..
Your firm, General Hospital is a not-for-profit, acute care facility which has the following cost structure for its inpatient services. Your job is to determine based on your extensive knowledge of Cost behaviour and profit analysis theory and concep..
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