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Ricky Ripov’s Pawn Shop charges an interest rate of 16 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers. Requirement 1: What rate should the shop report? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to decimal places (e.g., 32.16). Annual percentage rate % Requirement 2: What is the effective annual rate? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Effective annual rate %
There are several different categories of loans, including pure discount loans, interest-only loans, amortized loans, and balloon loans. What do each of those categories mean and please provide a real-life example of when each could be an appropriate..
What is your approximate real rate of return on this investment?
Winnebagel Corp. currently sells 35,000 motor homes per year at $73,000 each, and 14,500 luxury motor coaches per year at $110,000 each. The company wants to introduce a new portable camper to fill out its product line; it hopes to sell 30,000 of the..
What rate should you charge for these services (assuming one charge rate for all payers)? (This gives you your total A/R.) Calculate the total charges for all cases based on this rate.
In 2013 Caterpillar Inc. had about 654 million shares outstanding. Their book value was $33 per share, and the market price was $86.50 per share. The company’s balance sheet shows that the company had $19.7 billion of long-term debt, which was curren..
Given an interest rate of 6.7 percent per year, what is the value at Year 9 of a perpetual stream of $3,450 payments that begin at Year 17?
Consider a mining project in which there are costs to open the mine and to seal the mine at the end of the project. Consider the following cash flows for the project: --$3,787,879 initially, $8,712,121 one year from today, and --$5,000,000 two years ..
To avoid any uncertainty regarding his business' financing needs at the time when such needs may arise, Cyrus Brown wants to develop a cash budget for his latest venture: Cyrus Brown Manufacturing (CBM)
Drogo, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 10 years to maturity that is quoted at 108 percent of face value. The issue makes semiannual payments and has an embedded cost of 9 percent annually. Wha..
We are evaluating a project that costs $829,000, has an nine-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 113,000 units per year. Calculate the best-case N..
If the financial markets are semi strong form efficient, then: every security offers the same rate of return. Only individuals with private information have a marketplace advantage. no one individual has an advantage in the marketplace. Only the most..
Suppose a stock had an initial price of $62 per share, paid a dividend of $1.10 per share during the year, and had an ending share price of $74. What was the dividend yield and the capital gains yield?
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