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If, for instance, choose an mortgage loan, ARM, some that you discover, a what will be. are that order you if be you or buy, and investment home a one. There of to mortgage calculator, never way were used: to what mortgage be. … read more…
Mortgage loan calculators: Can Borrowers With Less Than Perfect …
Lenders are always looking for new customers and virtually all loan officers work on a commission and so if the loan doesn’t go through they don’t get paid. As a result, it’s in their best interest to do whatever it takes to get you a … read more…
Home Upgrade Loan Calculator: How To Work And Learn About It?Easy …
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Open Question: Accounting help fast 10 pts!?
Billy Bob Incorporated has a line of credit from the Down South National Bank that is due to be renewed on February 1. The bank has requested the company’s current Income Statement and Balance Sheet that appear below.
Billy Bob Incorporated
Income Statement
Year Ended December 31
(in thousands)
Revenue:
Sales
$60,000
Other
4,500
Total revenue
64,500
Expenses:
Cost of goods sold
40,500
Selling and administrative
11,625
Depreciation and amortization
1,875
Interest
1,500
Total expenses
55,500
Income before income taxes
9,000
Income taxes
3,600
Net income
5,400
Less: Dividends to common shareholders ($3.86 per share)
2,550
Net income added to retained earnings
2,850
Retained earnings, beginning of year
8,550
Retained earnings, end of year
$11,400
Earnings per share
$8.18
Billy Bob Incorporated
Balance Sheet
As of December 31
(in thousands)
This Year
Last Year
Assets
Current assets:
Cash and marketable securities
$ 1,950
$ 1,575
Accounts receivable, net
3,600
3,750
Inventories
4,875
4,650
Prepaid items
375
225
Total current assets
10,800
10,200
Noncurrent assets:
Investments, at cost
7,950
7,950
Deposits
750
600
Property, plant, and equipment
21,000
19,500
Total assets
$40,500
$38,250
Liabilities and Shareholders’ Equity
Current liabilities:
Short-term loans
$ 1,650
$ 1,800
Accounts payable
5,400
5,325
Salaries and wages payable
1,950
2,025
Total current liabilities
9,000
9,150
Long-term debt
12,000
12,825
Total liabilities
21,000
21,975
Shareholders’ equity:
Common stock, at par
3,300
3,150
Paid-in capital in excess of par
4,800
4,575
Total paid-in capital
8,100
7,725
Retained earnings
11,400
8,550
Total shareholders’ equity
19,500
16,275
Total liabilities and shareholders’ equity
$40,500
$38,250
The bank has also requested that Billy Bob calculate a number of financial ratios. Billy Bob’s financial ratios have not yet been calculated for this year, but the company’s accounting staff has gathered the following industry averages for the ratios from various sources.
Industry Averages
Return on total assets……………………………….
6.4%
Return on common shareholders’ equity……………………………….
12.5%
Current ratio………………………………..
1.86:1
Acid-test (quick) ratio………………………………..
0.85:1
Debt-to-equity ratio………………………………..
1.23:1
Times interest earned ratio………………………………..
7.78:1
Dividend payout ratio………………………………..
39.6%
______________________________________.
Question
Use formulas referencing the cells in the IS and BS that you already prepared
[Suggestion] Figure out the correct answer using a calculator FIRST and then make sure this number matches your “formulated” number
By comparing the ratios calculated in Requirement 2 with the industry ratios, evaluate Billy Bob’s operations.
Open Question: Finance Problems using TI-83 Plus?
Use the “Finance” key on you TI-83 to solve the following problems. Use the TVM Solver program in Finance.
1) Determine the monthly car payment necessary to repay a $29,700 car loan if interest is computed at 7.13% per year compounded monthly and the loan period is five years.
N = 5* 12 = 60
I% = 7.13 / 12 (I’m not sure if this is correct?)
PV = 29,700
PMT = (Trying to solve for this I got 513.15 not sure if it’s correct. )
FV = 0
2) How much money should a couple invest at the end of each year if the objective is to accumulate $62,750 after 17 years (says for a child’s education)? Assume that the investment earns interest at the annual rate of 4.25% per year compounded quarterly.
N = (I’m not sure)
I% = 4.25% / 4 (Divided by 4 because it’s quarterly?)
PV = (Not sure)
PMT = (Not Sure)
FV = (I’m guessing this is suppose to be 62,750)
3) A person wants to retire at the age of 55 years. He/she wants to draw a monthly retirement income of $2,500 for the next 30 years from a pension plan that holds his/her money that earns 3.85% per compounded monthly. What amount of money must be put into the pension plan initially (at age 55) to ensure the desired monthly retirement income for the person?
N = ?
I% = ?
PV = ?
PMT = ?
FV = ?
4) A couple wants to buy a vacation home in 6.5 years. What one-time total amount should they invest now that will earn interest at the rate of 4.52% compounded semi-annually in order to have a $10,000 down payment for the vacation home at the end of the 6.5 years?
N = ?
I% =?
PV = ?
PMT = ?
FV = ?
http://www.tvmcalcs.com/calculators/ti83/ti83_page2 (this link helps to provide what N, I%, PV, PMT, and FV means.) Please help me with this finance problems!!! Any hints would help!
Open Question: math help pleas help if you have a rude comment dont help?
1.John inherited $5,000 from his grandfather. He put it in a savings account to buy a car when he turns 16. John is 13 right now. If his savings account earns 7% over the next 3 years, how much will be in the account when he turns 16?
2.The regular price of a calculator is $15.40. It goes on sale for 30% off the regular price. What is the amount of savings on the calculator?
3.The population of Fresno, California was 762,565 in 1980. The population in 1990 was 836,231. Find the percent of increase
4.The regular price of a calculator is $15.40. It goes on sale for 30% off the regular price. What is the sale price?
5.The Carlisles borrowed $94,000 to buy their first home. The interest rate on their loan was 7.5% for 20 years. How much interest will they have paid after 20 years?
6.John inherited $5,000 from his grandfather. He put it in a savings account to buy a car when he turns 16. John is 13 right now. If his savings account earns 7% over the next 3 years, how much interest will he have earned?
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