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You own a bond with the following features: 9 years to maturity, face value of $1000, coupon rate of 2% (annual coupons) and yield to maturity of 1.1%. Just after you purchase the bond, the yield to maturity rises to 5.4%. What is the capital gain or loss on your bond?
1. buckeye corp. is currently an all-equity firm with a market value of equity of 100 million. the current expected
For the next 12 years, you decide to place $578 in equal year-end deposits into a savings account earning 7.32 percent per year. How much money will be in that account at the end of that time period?
Let’s explore retirement planning analysis by calculating the data and sketching a graph that shows the relationship between interest rate and length of the annuity, i.e. the period that monthly withdrawals are made from the retirement account. Deter..
Suppose your local government decided to tax the interest income on its own bonds as part of an effort to rectify serious budgetary woes. If, before the change in tax status, the yields on the bonds described were below the Treasury yield of the same..
Bristol Myers Squibb, an international pharmaceutical company, is initiating a new project for which it requires $2.5 million in debt capital. The current plan is to sell 20-year bonds that pay 4.2% per year, payable quarterly, at a 3% discount on th..
Suppose you are buying your first house for $400,000 with 20% down payment. You have arranged to finance the remaining amount with a 30-year, monthly payment, amortized mortgage at nominal annual rate of 3.6%. What is the monthly mortgage payment?
Many firms believe that it is very difficult to estimate the amount of a possible future contingency. Should a contingent liability be reported even when the dollar amount of the loss is not known? Should it be disclosed in the notes to financial sta..
Consider a trader who takes a long position in a six-month forward contract on the euro. The forward rate is $1.75 = €1.00; the contract size is €62,500. At the maturity of the contract the spot exchange rate is $1.65 = €1.00. Find the trader's profi..
Blue Inc. desires a weighted average cost of capital of 13.2 percent. The firm has an after-tax cost of debt of 4.8 percent and a cost of equity of 15.2 percent (assume that these costs do not change with the capital structure). What debt-equity rati..
Size of Accounts Receivable Essence of Skunk Fragrances, Ltd., sells 6,000 units of its perfume collection each year at a price per unit of $380. All sales are on credit with terms of 1/10, net 30. Changes in the Operating Cycle Indicate the effect t..
Most firm's cash balances consist of transactions, compensating, precautionary, and speculative balances, and the optimal total cash balance is found as the sum of the amounts needed for each of these purposes. Some firms choose to hold highly liquid..
A manager believes his firm will earn a 12 percent return next year. His firm has a beta of 1.2, the expected return on the market is 8 percent, and the risk-free rate is 3 percent. Compute the return the firm should earn given its level of risk and ..
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