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Home loans typically involve “points,” which are fees charged by the lender. Each point charged means that the borrower must pay 1% of the loan amount as a fee. For example, if the loan is for $200,000 and 4 points are charged, the loan repayment schedule is calculated on a $200,000 loan but the net amount the borrower receives is only $192,000. What is the effective annual interest rate charged on such a loan assuming loan repayment occurs over 120 months? Assume the interest rate is .75% per month. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or maintains the current dividend once a year and then pays this dividend out i..
Thomas invests $121 in an account that pays 6 percent simple interest. How much money will Thomas have at the end of 4 years? Beatrice invests $1,430 in an account that pays 5 percent simple interest. How much more could she have earned over a 6-year..
The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies. Gecko pays no dividend, whereas Gordon has an expected dividend yield of 4 percent. Suppose the capital gains tax rate i..
Finance balance sheet: KneeMan Markup Company has total debt obligations with book and market values equal to $30 million and $28 million, respectively. It also has total equity with book and market values equal to $20 million and $70 million, respec..
Which one of the following statements related to dividend policy is correct?
Nuff Folding Box Company, Inc. is considering purchasing a new gluing machine. The gluing machine costs $50,000 and requires installation costs of $2,500. This outlay would be partially offset by the sale of an existing gluer. The new machine will be..
Classify each of the following events as a source of systematic or unsystematic rick and why.
Peterson Packaging Corp. has a basic earning power of (BEP) of 9% on $9 billion of total assets, and its times interest earned (TIE) ratio is 3.0. Peterson's depreciation and amortization expense totals $1 billion. It has $0.6 billion in lease paymen..
Jim Busby calls his broker to inquire about purchasing a bond of Disk Storage Systems. His broker quotes a price of $1,180. Jim is concerned that the bond might be overpriced based on the facts involved. Compute the new price of the bond and comment ..
A manager of an inventory system believes that inventory models are important decisionmaking aids. Even though often using an EOQ policy, the manager never considered a backorder model because of the assumption that backorders were bad and should be ..
You purchased an immediate annuity which pays you $3,000 each year from next year for 15 years. Assuming interest rate is 5%, how much is the equivalent present value of these payments? At the same 4% annual interest rate, the future value of $1,000 ..
Negus Enterprises has an inventory conversion period of 80 days, an average collection period of 47 days, and a payables deferral period of 40 days. Assume that cost of goods sold is 80% of sales. What is the length of the firm's cash conversion cycl..
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