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The mortgage on your house is 5 years old. It required monthly payments of $1,450, had an original term of 30 years, and had an interest rate of 8% APR. You decide to refinance. The new mortgage had a 30-year term, requires monthly payments, and has an interest rate of 5.625% APR.
a) What monthly repayments will be required with the new loan?
b) If you still want to pay off the mortgage in 25 years, what monthly payment should you make after you refinance?
c) Suppose you are willing to continue marking monthly payments of $1,450. How long will it take you to pay off the mortgage after refinancing?
d) Suppose you are willing to continue marking monthly payments of $1,450 and want to pay the mortgage off in 25 years. How much additional cash can you borrow today as part of the refinancing?
Abbott Laboratories (ABT) engages in the discovery, development, manufacture, and sale of a line of health care and pharmaceutical products. Below you will find selected information from Value Line. Use the Value Line estimated 2009 figures as the ac..
Create a PowerPoint presentation that summarizes elements that affect staffing at Patton-Fuller, such as raises in wages and changes in the nurse-to-patient ratio. Include speaker notes. and references
1. What role do you think insurance companies play when it comes to pension funds and financial planning?
Giant co. has issued preferred stock with a par value of $100 and an annual dividend rate of 8.53 percent. if your required rate of return is 7.18 percent, how much will you be willing to pay for one share of this preferred stock?
Accumulated Value of an Annuity Certain. Formula for annuity certain is ((1+j%/12)^60-1)/(j%/12)=66.67.... but no software can apparently solve this! An accumulated value of an annuity certain with n=60, and interest = j%/12, is equal to=66.67.........
You have decided to enter the candy business. You are considering producing two types of candies: Slugger candy and Easy Out candy, both of which consist solely of sugar, nuts, and chocolate. At present you have in stock 10,000 ounces of sugar, 2,000..
In the model of exchange rate and output determination, explain how to derive the relationship between output and nominal exchange rates in both the output and the asset markets. Plot these relationships in one graph and explain the equilibrium condi..
Sarah wants to go buy a house in Hawaii 15 years from now. She estimates she'll need $400,000 at that time to make this purchase. She plans to save each month at the end of the month for the next 15 years, and invest it at a rate of 8% a year, compou..
Killer Whale, Inc. has the following balance sheet statement items: total current liabilities of $885,517; net fixed and other assets of $1,698,610; total assets of $2,852,030; and long-term debt of $655,703. What is the amount of the firm’s current ..
What is the cost to purchase one October 17.50 call contract on Cisco stock? What is the time value per share of the November 15 call? Which of the options shown in the quote are in-the-money? Suppose you bought 10 Cisco Oct 20 put contracts. Just be..
you are hired in the finance department at a large metropolitan for-profit hospital. your duties are very important to
Companies with rapidly growing levels of sales do not need to worry about raising funds from outside the firm. Do you agree or disagree with this statement? Explain.
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