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(solution) PLEASE ANSWER ASAP!! 1. Cynthia Baker has just won the lottery


PLEASE ANSWER ASAP!!

  1. 1. Cynthia Baker has just won the lottery and has been promised an annual payment of $15,000 every year forever starting one year from today. If the annual interest rate is 11%, what is the present value of the winnings?
  2. 2. Suppose you will be investing $18,000 at the end of each year for the next 25 years for your retirement. At the end of this 25 year time period you hope to have accumulated $1.2 million. What annual rate of return would you have to earn on your investments to reach your target? (Round your answer to the nearest whole number percentage)
  3. 3. John Peck plans to buy a lawn tractor for $2,600 after two years. If the annual interest rate he could earn 9.0% compounded every six months, how much money should he set aside today for the purchase?
  4. 4. Suppose you bought a new car with a 6 year loan that requires monthly payments. The amount borrowed is $28,500. The monthly payment is $452.18. What is the annual percentage interest rate (APR) on this loan?
  5. 5. Fang Corp has been told by its investment bankers that it would have to pay 11% interest to successfully sell new bonds. The company has bonds outstanding, issued 5 years ago, on which the company is paying 8% annual interest. The company's tax rate is 42%. What is its after-tax cost of debt if it decides to borrow new funds?

 


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