1. A preferred stock promises to pay $3.40 in interests every year. The required rate of return is 6.91%. What's the fair price of this preferred stock?
2. What is the difference between EBITDA and cumulative EBITDA? How would cumulative EBITDA be calcuated? Is there an excel formula?
3. You have learned that you inherited a bank account from your grandfather who had deposited $350 into the account 95 years ago. The account has been receiving 7% interest annually. How much money have you inherited from your grandfather?