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Mack Aroni, a bank robber, is worried about his retirement. He decides to start a savings account. Mack deposits annually his net share of the "loot," which consists of $75,000 per year, for 3 years beginning January 1, 2000. Mack is arrested on January 4, 2002, (after making his third deposit) and spends the rest of 2002 and most of 2003 in jail. He escapes in September of 2003. He resumes his savings plan with semiannual deposits of $30,000, the first one being made on January 1, 2004. Assume that the bank's interest rate was 9% compounded annually from January 1, 2000 through January 1, 2003, and 12 % annual rate compounded semiannually thereafter.
When Mack retires on January 1, 2007 (6 months after his last deposit), what is the balance in his savings account?
How much less could you have deposited last year if you could have earned a fixed rate of 6.5 percent and still have the same amount as you currently will when you retire 38 years from today?
Write a short memo to management explaining your analysis and making a recommendation. Should the project be accepted? Why or why not? (i.e. Explain what your numerical answer means.)
How do packaged products like mutual funds compare to individual stock ownership? Do people become less attached to a mutual fund compared to a stock or stock certificate?
Treadmill Trucking has a total tax rate of 20 percent. Should the firm purchase or lease? Determine the PV of both. Find the NAL.
A riskless zero-coupon (no intermediate/periodic coupon payments) bond that will pay $1,000 in 10 years is selling today for $350. What implied rate of return does the bond offer?
What is the company's weighted average cost of capital if retained earnings are used to fund the common equity portion. 11.20% 12.00% 13.80% 14.45%
The security's price will change (up or down) by 10% during the year, and the risk-free annual effective interest rate is 5%. The no-arbitrage price of the option is $100. Use risk-neutral probabilities to find the exercise price for the option.
Brushy Mountain Mining Corporation's ore reserves are being depleted, so its sales are falling. Also, its pit is getting deeper each year, so its costs are increasing.
You own a fixed income asset with a MaCaulay duration of 5 years. If the level of required yields, which is currently at 8%, goes down by 0.10%, how much do you expect the price of the asset to change (in percentage terms)?
Determine how many batches of each type of candy the confectionery should make assuming that the profit per pound box is $0.50 on fudge, $0.40 on chocolate crèmes and $0.45 onpralines.
If your goal is to determine how effectively a firm is managing its assets, which of thte following sets of ratios would you examine?
Assume that National Waferonics has before it a proposal for a 4 year financial lease. The company constructs a table. The bottom line of its table shows the lease cash flows:
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