States is expanding slowly. Although the economy has grown‚ it is not growing fast enough to sustain the unemployment rate in America. The prime rate is the interest rate that commercial banks charge. The prime rate affects the lending rates to mortgage‚ small business‚ and personal loans. According to bankrate.com‚ the Wall Street Journal states the current prime rate for the United States for the week of Dec 12‚ 2012 is 3.25% and it is holding steady at this rate as it has been the same for a
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dealer is willing to sell a given security. • Asset-Backed Securities (ABS): A type of security that is backed by a pool of bank loans‚ leases‚ and other assets. Most ABS are backed by auto loans and credit cards – these issues are very similar to mortgage-backed securities. • At-the-money: The exercise price of a derivative that is closest to the market price of the underlying instrument. • Basis Point: One hundredth of 1%. A measure normally used in the statement of interest rate e.g.‚ a change
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10/15/13 6:34 PM Intro to Real Estate & Time Value of Money • • • Mortgage – a loan you get to buy to piece of property where the property serves as collateral Equity – the amount of your money in the property Down payment – a one time name for your equity o House $150‚000 Mortgage - 120‚000 Equity 30‚000 à Down payment 30‚000 ÷ 150.000 = 20% **What banks like to see • • As you pay off your mortgage‚ your equity goes up LTV (loan to value) – loan ÷ value of property o 120
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Date:____________________ Finance 455 (9:40 class) Examination 2 Monday‚ November 4‚ 2013 9:40 a.m. - 10:55 p.m. 20 Questions 100 points Form (A) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Use a pencil. The proctor is leaving at 10:55 sharp. Calculators permitted‚ but no sharing. Leave your ID where the proctor can check it. All questions are worth five (5) points. If there are any graphs on the test‚ then leave the questions from the graph blank on the computer scan sheet! Mark your answers
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EXERCISES AND PROBLEMS ch 1 Carry Yoki’s Lounge consists of the following. Carry‚ the owner believed that people would come to hear a band play on Friday‚ Saturday‚ and Sunday evening. During the remainder of the week‚ she believed her customers would watch sporting events on several television sets located throughout the lounge. Carry employed two bartenders‚ three servers‚ two assistant servers‚ two cooks‚ one dishwasher and a clean-up person. She had a bar‚ 15 barstools‚ 4 tables‚ 40 chairs
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Financial Management-chapter 7 solution- Gitman 7-21 Western Money Management Inc. Bond Valuation Robert Black and Carol Alvarez are vice presidents of Western Money Management and codirectors of the company’s pension fund management division. A major new client‚ the California League of Cities‚ has requested that Western present an investment seminar to the mayors of the represented cities. Black and Alvarez‚ who will make the presentation‚ have asked you to help them by answering the
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SAMPLE EXAMINATION The purpose of the following sample examination is to provide an example of what is provided on exam day by ASQ‚ complete with the same instructions that are provided on exam day. The test questions that appear in this sample examination are retired from the CSSBB pool and have appeared in past CSSBB examinations. Since they are now available to the public‚ they will NOT appear in future SSBB examinations. This sample examination WILL NOT be allowed into the exam room.
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1. If you deposit $10‚000 in a bank account that pays 10 percent interest annually‚ how much money will be in your account after 5 years? 2. What is the present value of a security that promises to pay you $5‚000 in 20 years? Assume that you can earn 7 percent if you were to invest in other securities of equal risk. 3. If you deposit money today into an account that pays 6.5 percent interest‚ how long will it take for you to double your money? 4. Your parents are planning to retire in 18
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steps and buttons to your financial calculator‚ to support the solutions you submit. John is purchasing a house for $500‚000. He plans to make a down payment of $100‚000 and take out a 30-year mortgage for $400‚000. If the interest rate on the house is 5.5 per cent per year‚ how much will his monthly payment be for principal and interest.If the interest rate is the same‚ how much would his monthly payment for principal and interest be if he took out a 15-year mortgage? How much interest will John save
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existence for the company and its customers. Wells Fargo offers a wide array of products and services including banking‚ lending‚ investments‚ financing‚ and real estate. However‚ it has built a strong foundation by being an industry leader in home mortgage loans. Wells Fargo generates home loans by considering the customers’ needs and values. It has limited losses by not taking on undue risk from applications that don’t meet certain requirements. This has allowed the organization to thrive in the
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