Eight years ago, you took out a mortgage on your home and are currently considering refinancing into a loan at a lower rate and for a shorter term.  Your original loan was for 30 years, at 4.5% interest on the $200,000 borrowed, and you pay monthly.  The new loan you are considering will be for 15 years at a rate of 2.5%.  Again, the payments will be monthly.  What will your new payment be if you take on this new loan? (hint: first, find the balance remaining)

You just won the lottery and have been offered the opportunity to receive 10,000 every year for the rest of your life, or you can take a lump sum payment of $500,000.  What discount rate is the lottery using to come up with that lump-sum payout?

What is the net working capital for this firm?

You retire at age 60 and expect to live another 27 years. On the day you retire, you have $464,900 in your retirement savings account. You are conservative and expect to earn 4.5% on your money during your retirement. How much can you withdraw from your retirement savings each month if you plan to die on the day you spend your last penny? 

On a recent family trip, your child complained constantly that you weren’t driving fast enough.  You tried to explain that it was easier for them to say, because they weren’t the ones who would have to pay for the ticket.  What term below is the name for this situation?

Your bank offers to lend you $10,000 at an interest rate of 4.8% compounded quarterly.  What is the effective annual rate that is equivalent to this nominal rate?

How much will be spent on SGA expenses in 2008?

What is this firm’s days payable outstanding?  Or in other words, how many days to they wait before remitting their accounts payable?

How many days does this firm hold onto inventory, or in other words, what is their days in inventory?

When one shareholder sells stock to another buyer, the transaction is said to occur in the ___________?