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- Sepia Inc. issued bonds for $475,000 that were redeemable in 6 years. They established a sinking fund that was earning 5.37% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits were being made to the fund at the end of every 6 months. a. Calculate the size of the periodic sinking fund deposit. Round your answer up to the next cent b. Calculate the sinking fund balance at the end of the payment period 6. Round to the nearest cent c. Calculate the interest earned in payment period 7. d. Calculate the amount by which the sinking fund increased in payment period 7. Round to the nearest centSunrise, Incorporated. Is trying to determine Its cost of debt. The firm has a debt Issue outstanding with 9 years to maturity that is quoted at 110 percent of face value. The issue makes semiannual payments and has an embedded cost of 7.8 percent annually. a. What is the company's pretax cost of debt? Note: Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 2216. b. If the tax rate is 22 percent, what is the aftertax cost of debt? Note: Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 3216. a. Pretax cost of debt b. Aftertax cost fo debt %Carey Company is borrowing $250,000 for one year at 10.0 percent from Second Intrastate Bank. The bank requires a 18 percent compensating balance. The principal refers to funds the firm can utilize effectively (Amount borrowed - Compensating balance) a. What is the effective rate of interest? (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest b. What would the effective rate be if Carey were required to make 12 equal monthly payments to retire the loan? (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest
- Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning one year from today. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Round your final answers to nearest whole dollar amount.)On January 1, a company agrees to pay $29,000 in ten years. If the annual interest rate is 7%, determine how much cash the company can borrow with this agreement. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Future Value $ 29,000 Table Factor ...... 11 Amount BorrowedCompany A borrows P2,000,000 from Bank at 12% interest to be paid at the end of each year for 15 years. Find for the annual total payments under (a) equal annual amortization (b) equal principal payment methods. Construct a completeamortization schedule (as shown below) for each scheme. Year Outstanding Balance Principal Payment Interest Payment Total Payment 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Considering the given information, find for the annual total payments undera. equal annual amortization b. equal principal payment methods if a 3-year graceperiod is charged on both principal and interest. Construct a complete amortization schedule for each scheme.
- Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $12,500 not due for three years. The interest rate on the note is 9%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) X Answer is not complete. Step 1: Calculate the PV of the Ordinary Annuity Component: Payment: $ n = Present Value: i = Present Value: Step 2: Convert the Annuity to a Single Sum: Payment: $ n = $ i = 12,500✔✓ 5✔ 9%✔ 48,621✔ 48,621✔ 5 x 9% ✔ICU Window, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with nine years to maturity that is quoted at 117 percent of face value. The issue makes semiannual payments and has an embedded cost of 11 percent annually. What is the company’s pretax cost of debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Pretax cost of debt % If the tax rate is 34 percent, what is the aftertax cost of debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Aftertax cost of debt %Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $16,000 not due for three years. The interest rate on the note is 6%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Step 1: Calculate the PV of the Ordinary Annuity Component: Payment: $16,000 n = 5 i = 6% Present Value: $67,398 Step 2: Convert the Annuity to a Single Sum: Payment: ? n = 3 i = 6% Present Value: ?
- Ontario Credit Union borrowed $275,000 at 9.5% compounded semi-annually from League Central to build an office complex. The loan agreement requires payment of interest at the end of every 6 months In addition, the credit union is to make equal payments into a sinking fund so that the principal can be retired in total after 20 years Interest earned by the fund is 8% compounded semi-annually (a) What is the semi-annual interest payment on the debt? (b) What is the size of the semi-annual deposits into the sinking fund? (c) What is the total annual cost of the debt? (d) What is the interest earned by the fund in the 32nd payment interval? (e) What is the book value of the debt after 16 years? (f) Prepare a partial sinking fund schedule showing details, including the book value of the debt, for the first three payments, the last three payments, and the totals. (a) The interest payment is $ (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal…Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,500 beginning one year from today. The interest rate on the note is 5%.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Round your final answers to nearest whole dollar amount.) Table or calculator function: Payment: n = i = Present Value:Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 not due for three years. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Part 1: Calc the PV of the Ordinary Annuity component: Payment = n = i = Present Value = Part 2: Convert the annuity to a single sum: Payment = n = i = Present Value =