A firm has $10 million in total assets. It has $4 million in current liabilities, $1.5 million in long-term debt, and $1 million in preferred stock.

What is the total value of common equity? In how many years will $5000 grow to $5570 at 6% compounded monthly?

Suppose $3500 earns an interest of $350.85 in one year. What is the nominal annual rate of interest compounded annually? 6. Compute the value of an investment 8 months before the maturity date that earns interest at 6% p.a. and has a maturity value of $884.