Tom Cruise Lines Inc. issued bonds five years ago at $1,000 per bond. These bonds had a 30-year life when issued and the annual interest payment was then 12 percent. This return was in line with the required returns by bondholders at that point as described below: Real rate of return 4 %
Inflation premium 5
Risk premium 3
Total return 12 %

Assume that five years later the inflation premium is only 2 percent and is appropriately reflected in the required return (or yield to maturity) of the bonds. The bonds have 25 years remaining until maturity.

Compute the new price of the bond. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)

Describe a situation that you could represent with the inequality x< 17

Stefania pours 2 liters of orange juice and 1.5 liters of pineapple juice into a punch bowl. how many liters are in the punch bowl?

The resumâ´es of two male applicants for a college teaching position in chemistry are placed in the same file as the resumâ´es of two female applicants. two positions become available, and the first, at the rank of assistant professor, is filled by selecting one of the four applicants at random. the second position, at the rank of instructor, is then filled by selecting at random one of the remaining three applicants. using the notation m2f1, for example, to denote the simple event that the first position is filled by the second male applicant and the second position is then filled by the first female applicant, (a) list the elements of a sample space s; (b) list the elements of s corresponding to event a that the position of assistant professor is filled by a male applicant; (c) list the elements of s corresponding to event b that exactly one of the two positions is filled by a male applicant; (d) list the elements of s corresponding to event c that neither position is filled by a male applicant; (e) list the elements of s corresponding to the event a â© b; (f) list the elements of s corresponding to the event a âş c; (g) construct a venn diagram to illustrate the intersections and unions of the events a, b, and c.