You took out a 30-year mortgage for $150,000 exactly 5 years ago (i.e. you just...
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Finance
You took out a 30-year mortgage for $150,000 exactly 5 years ago (i.e. you just made your 60th payment). The loan had a nominal annual interest rate of 6% with monthly payments. Assuming all of your payments have been made on-time, how much of your next payment will go towards interest?
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Quickchat is a social media company which is expected to pay out its first dividend of $3.50 per share exactly three years from today. After that the dividend growth rate is expected to be constant forever. Quickchat's share price today is $37.16, and the firm's required rate of return is 16%. The constant annual growth rate the company expects from year 3 onwards is closest to:
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