A firm has a profit margin of 7% and an equity multiplier of 2.8. Its sales are $400 million, and it has total assets of $160 million. What is its ROE? Do not round intermediate calculations. Round your answer to two decimal places.
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You want to buy a car, and a local bank will lend you $10,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 11% with interest paid monthly.
What will be the monthly loan payment? Do not round intermediate steps. Round your answer to the nearest cent.
$
What will be the loan's EAR? Do not round intermediate steps. Round your answer to two decimal places.
%
You borrow $250,000; the annual loan payments are $16,262.86 for 30 years. What interest rate are you being charged? Round your answer to two decimal places.
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You have saved $5,000 for a down payment on a new car. The largest monthly payment you can afford is $300. The loan will have a 11% APR based on end-of-month payments.
What is the most expensive car you can afford if you finance it for 48 months? Do not round intermediate calculations. Round your answer to the nearest cent.
$
What is the most expensive car you can afford if you finance it for 60 months? Do not round intermediate calculations. Round your answer to the nearest cent.
$