Marc has purchased a new car for $15,000. He paid $2,500 as down payment and he paid the balance by a loan from his hometown bank. The loan is to be paid on a monthly basis for two years charging 12 percent interest
How much are the monthly payments?
PV = 15,000 - 2,500 = $12,500, r = 12%, n = 2, m = 12
Use financial calculator: PV=12500, I=1, n=24, FV=0, CPT PMT: $588.42
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A _____________________ allows preferred stockholders to share on a percentage basis in the distribution of an abnormally large dividend
Fill in the blank(s) with correct word
A. Yorkshire Corporation has 9,000 shares of $10 par value common stock and 5,000 shares of $50 par value, 10 percent cumulative preferred stock outstanding. All shares were issued at par value. In addition, retained earnings total $90,000. If the preferred stock is callable at $54 per share, and one year's dividends are in arrears, compute book value per share of preferred stock
b. Assume the same facts as in a above. Calculate book value per share of common stock. c. Assume the same facts as in a above and that Yorkshire Corporation declares a 5-for-1 stock split on its common stock. After the split, total par value of common stock equals what amount? d. Assume the same facts as in a above and that Yorkshire Corporation declares a 12 percent stock dividend on its preferred stock. If the market value on the declaration date was $70 per share, for what amount will Preferred Stock Distributable be credited?
For testing the difference between two population proportions, the pooled proportion estimate should be used to compute the value of the test statistic when the:
a. populations are normally distributed. b. sample sizes are small. c. null hypothesis states that the two population proportions are equal. d. samples are independently drawn from the populations.
The expenditure classification "Public Safety" is an example of which of the following types of classifications?
A. Activity. B. Function. C. Object. D. Character.