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You have just had your 30th birthday. You have two children, one of which will go to college 10 years from now and require four beginning-of-the-year payments for college expenses of $10,000, $11,000, $12,000, and $13,000. Your second child will go to college 15 years from now and require four beginning-of-the-year payments for college expenses of $15,000, $16,000, $17,000, and $18,000. In addition, you plan to retire in 30 years. You want to be able to withdraw $50,000 per year (at the end of each year) from an account throughout your retirement. You expect to live 20 years beyond retirement. The first withdrawal will occur on your 61st birthday.
What equal, annual, and end-of-the-year amount must you save for each of the next 30 years to meet these goals, if all savings earn a 13% annual rate of return?
You are currently working in a mid-size certified public accounting firm. Your client is Bob Jones. Bob, age 60 and single, has recently retired from IBM. He has $690,000 available in his 401k ad he is thinking of using that money to open a used car ..
You want to buy a new sports coupe for $73,900, and the finance office at the dealership has quoted you a loan with an APR of 6.3 percent for 72 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan..
The text identifies three methods for estimating the cost of common stock from reinvested earnings (not newly issued stock): CAPM method, DCF method, and Bond-yield-plus-risk-premium method.
Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in ..
Provide an estimate of the value of the company, indicating the proportion of the value accounted for by the company's growth prospects and determine the prospective price-earnings ratio of the company and comment on its anticipated change in value..
Luis has $120,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $3000/quarter into the new account until h..
Find the net payment on an equity swap in which party A pays the return on a stock index and party B pays a fixed rate of 6 percent. The notional amount is $10 million. The stock index starts off at 1,000 and is at 1,055.15 at the end of the period. ..
Thatcher Corporation's bonds will mature in 11 years. The bonds have a face value of $1,000 and an 9% coupon rate, paid semi annually. The price of the bonds is $1,050. The bonds are callable in 5 years at a call price of $1,050. What is their yield ..
A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 400 options. The options are worth $11, $14, and $18. What is the maximum net gain (after the cost of the options is taken into account)?..
BA Corp is issuing a 10-year bond with a coupon rate of 8 percent and a par value of $1,000. The market interest rate on similar bonds is currently 6 percent. If the coupon payments are made annually, what is the value of this bond? Knight, Inc. has ..
Suppose a firm finds itself as the target of a possible hostile takeover. An outside investor has acquired a major stake of shares and is threatening to exert influence on the broad. If you were to look at a firm's distribution of cash to investors o..
To pay for her college education, Gina is saving $2,000 at the beginning of each year for the next eight years in a bank account paying 12 percent interest. How much will Gina have in that account at the end of 8th year?
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