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Anne Morgan wants to borrow $6,000 for a period of four years. She has two choices. Her bank is offering to lend her the amount at 7.25 percent compounded annually. She can also borrow from her firm and will have to repay a total of $8,130.93 at the end of four years. Should Anne go with the bank or the firm, and what is the interest rate if she borrows from her firm?
Entry field with incorrect answer
A. She should borrow from the bank as the bank is charging a lower interest rate than the firm's interest rate of 7.9%.
B. She should borrow from the firm because it is charging a lower interest rate of 6.9%.
C. She should borrow from the firm because it is charging a lower interest rate of 6.5%.
Ralph's Machine shop purchased a computer used in tuning engines. To finance the purchase, the company borrowed 12900 at 3% compounded annually. To repay the loan, equal monthly payments are made over two years, with the first payment due one year af..
Robert wants to withdraw $100,000 a year for 30 years after he retires. He will probably work for 30 years and earn 7 interest during the whole time. How much does Robert have to contribute to her pension fund each year so she can retire on $100,000 ..
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Which of the following are agency costs? 1. Paying a dividend to each existing shareholders. 2. Purchasing new equipment which increases the value of each share of stock. 3. Hiring outside auditors to verify the accuracy of the company finance statem..
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction house sold a sculpture at auction for a price of $10,261,500. Unfortunately for the previous owner, he had purchased it in..
Image your small business that produces very small remote control aircraft capable of long sustained flights. You are ready to expand your business by competing for Department of Defense (DoD) contracts.
Compute Break-Even Point at the operating profit level: Ensco Lighting Company has fixed costs of $100,000, sells its units for $28 and has variable costs of $15.50 per unit. Compute the breakeven point.
You have just been assigned as your organization's training manager and must conduct a new needs assessment for a new project. Describe the method you would use.
Charlie's Cycles Inc. has $150 million in sales. The company expects that its sales will increase 5% this year. Charlie's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. What are you..
Whose responsibility it is to communicate the vision of the company during a time of mergers to the employees and about the impending mergers of the company being acquired?
Karen and Wayne need to buy a new refrigerator because theirs just broke. unfortunately their savings account is depleted and they will need to borrow money in order to buy a new one. the bank offers them a personal loan at 21 % (APR) and sears offer..
Your division is considering two investment projects, each of which requires an up-front expenditure of $15 million. You estimate that the investments will produce the following net cash flows:
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