Question: Question 38 A store is offering a diamond ring for sale for 60 months at $100 per month. The retail price of the ring is

Question 38 A store is offering a diamond ring for sale for 60 months at $100 per month. The retail price of the ring is $6,000. What is the annualized interest rate on this offer? Selected Answer: 0 7.42% Answers: 10.51% 9.28% 7.42% 0% Question 39 You want to receive $5,000 per month in retirement. If you can earn 6% annual return and you expect to need the income for 30 years, how much do you need to have in your account at retirement (monthly compounding)? Selected Answer: @ $722, 166 Answers: $644,156 $589,511 $722,166 $833,958 Question 40 A firm has issued a bond. The bond has a 6% coupon rate, paid semiannually, a current maturity of 20 years, and sell for $1,000. The firm's marginal tax rate is 21%. What's the firm's after-tax component cost of debt? Selected Answer: @ 5.5% Answers: 7.9% 5.5% 6.0% 21%

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