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1.Oppenheimer Bank is offering a 30-year mortgage with an APR of 5.25%. With this mortgage your monthly payments would be $2000 per month. In addition, Oppenheimer Bank offers you the following deal: Instead of making the monthly payment of $2000 every month, you can make half the payment every two weeks (so that you will make 52 ⁄ 2 = 26 payments per year). With this plan, how long will it take to pay off the mortgage of $150,000 if the EAR of the loan is unchanged?
2.Your friend tells you he has a very simple trick for shortening the time it takes to repay your mortgage by one-third: Use your holiday bonus to make an extra payment on January 1 of each year (that is, pay your monthly payment due on that day twice). If you take out your mortgage on July 1, so your first monthly payment is due August 1, and you make an extra payment every January 1, how long will it take to pay off the mortgage? Assume that the mortgage has an original term of 30 years and an APR of 12%.
3.You need a new car and the dealer has offered you a price of $20,000, with the following payment options: (a) pay cash and receive a $2000 rebate, or (b) pay a $5000 down payment and finance the rest with a 0% APR loan over 30 months. But having just quit your job and started an MBA program, you are in debt and you expect to be in debt for at least the next 2 1/2 years. You plan to use credit cards to pay your expenses; luckily you have one with a low (fixed) rate of 15% APR (monthly). Which payment option is best for you?
Money received today is worth more than the same amount of money received in the future. This is true because
Engstrom Company began fiscal 2013 with a $40,000 balance in Retained Earnings. During 2013, its net income was $167,890 and it declared and paid dividends of $50,000. What is the ending balance of Retained Earnings for Engstrom?
The Ohio Freight co. common stock is selling for $80 the day before the stock goes ex-dividend. The annual dividend yield is 5.4%, and the dividends are distributed quarterly.
Last year Productions pays no dividend at the present time. The company plans to start paying an annual dividend in the amount of $0.40 a share for two years commencing four years from today.
what are the 5 factors of production and why are they important?
What is the firm's breakeven point in units? c. Calculate the dollar breakeven point in two ways. d. Sketch the Breakeven Diagram.
The average home costs= $275,000 today. How much will it cost in ten years if price rises by 5% each year?
A company has $5,800 in sales. The profit margin is 4%. There are 5,000 shares of stock outstanding. The market price per share is $1.70. What is the price-earnings ratio?
The expected rate of return on the market portfolio is 8.50% and the risk-free rate of return is 2.50%. The standard deviation of the market portfolio is 24%. What is the representative investor's average degree of risk aversion?
Your subscription to Jogger's World is about to run out and you have the choice of renewing it through sending in the $10 a year regular rate at the end of each year or of getting a lifetime subscription to the magazine through paying $100 today.
A manufacturer of electronic products provides the following data relating to revenues, costs and plant capacity. The purpose is to find answers to the questions that are of primary concern to corporation.
Its dividend growth rate is expected to be constant at 15% for 2 years, after which dividends are expected to grow at a rate of 6% forever. Its required return is 12%. What is the best estimate of the current stock price?
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