Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

23. A 168-day, $100,000 T-bill was initially issued at a price that would yield the buyer 5.19%. If the yield required by the market remains

image text in transcribed

23. A 168-day, $100,000 T-bill was initially issued at a price that would yield the buyer 5.19%. If the yield required by the market remains at 5.19%, how many days before its maturity date will the T-bill's market price first exceed $99,000? Round to the nearest day. days (round to whole #) eg 1.54 --> 2 24. Marcie has a $20,000 personal line of credit with an interest rate of prime + 3%. On the last day of each month, a payment equal to the greater of $500 or 4% of the current balance (including the current month's accrued interest) is deducted from her chequing account. On December 6, she withdrew $5000. On January 15, she withdrew $12,000. The prime rate during this time was 3%. Calculate the balance owing at the end of February (non-leap year). $ (round to 2 decimal) eg 1.23 25. A small manufacturer specializing in singing stuffed animals can produce up to 800 units per month at a cost of $50 per unit. Fixed costs are $22,400 per month. Variable selling and shipping costs are $20 per unit. They sell the units for $110 each. How many units would they have to sell in a month to break even? units 26. Sixty-day commercial paper with face value $100,000 was issued by a company for $98,890.25. What rate of return will be realized if the investment is held until maturity? Round to the nearest 0.01% % (round to 2 decimal) eg 1.23

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Behavioral Finance And Capital Markets

Authors: A. Szyszka

5th Edition

1137338741, 9781137338747

More Books

Students also viewed these Finance questions