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Finance Questions and Answers March 16, 2020

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Denton Finance wishes to earn 3.8% on a portfolio of loans. Assuming that Denton anticipates a 2.1% inflation rate. GD of 40% and a 6% default rate, what would be the monthly payment amount on a $30,000 five year self-amortizing loan?

1. The Treasury bill rate is 4%, and the expected return on the market portfolio is 12%. Using the capital asset pricing model: (a) Draw a security market line. (b) What is the risk premium on the market? (c) What is the required return on an investment with a beta of 1.5? (d) If an investment with a beta of 0.8 offers an expected return of 9.8%,

Determine the interest rate earned on a $3,100 deposit when $3,700 is paid back in one year. (Round your answer to 2 decimal places.)

Andres bought a new boat. He took a loan out for $24,500 at 4.5% Interest for 2 years. He made partial payment at 2 months of $4500.00, and another partial payment at 6 months for $3000.00. how much is due at maturity? (Do not round intermediate calculations, round final answer to the nearest cent)

Jordan, age 14, has $2,500 in interest and dividends and earned income from a part time job of $10,500. How much is taxed to Jordan at Jordan's tax rate? a.$300 b.$1,100 c.$1,850 d.$2,150 AND Jordan, age 14, has $2,500 in interest and dividends and earned income from a part time job of $10,500. How much is taxed to Jordan at trust tax rates? a.$0

A SOURCE of cash is utility payments. true of false

What is NPV of a priest coming that cost $45,000 and is expected to have an after tax cash flow of 14,000$ for the first two years $10,000 next two years and 8,000$ for the fifth year? Use a 10% discount rate. Is this an acceptable project? Why / why not

PLEASE SHOW WORK Part 1: You have a one-year zero coupon bond that pays $1,000 which price today is $909.09. You have a two-year coupon bond with a principal value of $2,000 and coupon rate of 10%. Its price is $1,845.334. Determine what is the term structure of interest rates for years 1 and 2. Part 2: Compute the duration for the coupon bond and

Woidtke Manufacturing's stock has supernormal growth of 50% for Year 0 to Year 1, 40% for Year 1 to Year 2, 30% for Year 2 to Year 3, 25% for Year 3 to Year 4, and then long-run constant g = 6%. a.What is the value of this stock, if rs=12% and D0is $2? b.What are dividend yield and capital gains yield at t=0?

Suppose that you inherited some 2.25% US Treasury bonds from your grandfather that mature in 2027. Although they were originally purchased at par (and will mature at $1,000), they currently have a market value of around $950 each.If you believe that interest rates will continue to rise, should you sell, hold, or try to buy more?Explain why.

(a) Equity can be viewed as a call option on the assets of a company. Explain this statement and its implication for equity and debt holders. (30 marks) (b) By describing the mechanics of a Credit Default Swap (CDS) explain how it can be used to address credit risk. Use an example to illustrate your explanation. (40 marks) (c) An appropriately

The following are the cash flows of two projects: YearProject AProject B0$(240)$(240)1120140212014031201404120 If the opportunity cost of capital is 12%, what is the profitability index for each project? (Do not round intermediate calculations. Round your answers to 4 decimal places.)

Q. Interest rates in Hungary are currently 8.25% p.a. and in Europe interest rates are currently offered at 4.5% p.a. Current exchange rates are GBP/HUF 456.66 and EUR/GBP 0.8565 The GBP/HUF one year forward points are 780. The EUR/GBP one year forward points are 124. Note: Points are quoted to the last significant digit in the quotation. (a) What

Design carry trade strategies that explore opportunities in the U.S. yield curve.

What are the major categories of financial ratios and what are some of the problems associated with financial statement analysis?

Michael and Janine are both investors wanting to purchase investment portfolios. The expected return, standard deviation and beta of various investments are shown in the following table: InvestmentAverage return over last year (% pa)Standard Deviation (% pa)BetaApocryphal Industries15121.7Bona Fide Ltd1181.0Market Index112110 year Bond530 Michael

XYZ is a retailer and sells 115,000 units per year. It purchases from a single supplier.Fixed cost per order is $815 and carrying cost is $15 per unit. Suppose XYZ orders 6,000 units per order from the supplier. Calculate the sum of carrying cost and the shortage cost. Compute the Accounts Payable (A/P) period based on the following information:

Assume you make the following investments: A $10,000 investment in a 10-year T-bond that yields 9.00%, andA $20,000 investment in a 10-year corporate bond with an BBB rating and a yield of 11.30% Based on this information, and the knowledge that the difference in liquidity risk premiums between the two bonds is 0.40%, what is your estimate of the

The following table shows some data for three zero-coupon bonds. The face value of each bond is $1,000. BondPriceMaturity (Years)Yield to Maturity A $340 25 B $340 9% C 14 8% a. What is the yield to maturity of bond A? b. What is the maturity of B? c. What is the price of C?

A person makes annual deposits of $1,000 into an ordinary annuity. After 20 years, the annuity is worth $55,000. What annual compound rate has this annuity earned during this 20-year period? Express the answer as a percentage, correct to two decimal places. how to calculate this on a non graphical calculator. show steps. the answer should be 9.64%

Determine the optimal leverage of private equity owned companies? Do Private equity firms value when they divest their investment? Are companies owned by private equity more efficient?

XYZ Construction Inc. is evaluating the purchase of a new crane system for $1,000,000. If they purchase this system, revenues will increase by $250,000 and associated expenses will increase by 65% of revenues. The installation of the system is expected to cost $100,000 and require training of another $25,000.Because of the increase in business

Describe the carry trade strategy that explores opportunities in the interest rate difference between Japanese Yen (low interest rate) and U.S. Dollar (high interest rate) in 1995-1998.

XYZ is considering a project. It need to purchase a machine at $1,000,000 upfront. The tax office allows the machine to be depreciated on a straight-line basis over five years, though the management plans to end the project in three years. The receivables related to the project are expected to be $164,084 per year. The sales are expected to be

Design carry trade strategies exploring interest rate differences between two countries. Calculate the profit to such strategies and discuss how changes in exchange rates affect your profit.

A firm issues a two-year bond with face value 800 at time 0. The bond value does not change until the maturity date. The total assets value at time 0 is 1,000 and the assets value volatility is 0.4. Interest rate is 0.1. Using Merton model to estimate: 1) The distance to default of this firm at the maturity date 2) The probability of default at

Calculate arbitrage spread in a cash tender offer, stock-to-stock offer, and cash plus stock offer takeover. This is all the information that was provided as a study review

Lannister is planning to invest in a 10-year bond with a face value of $1,000 that pays a 8.5 percent coupon (paying semi-annually). Assume that coupon payments will be semi-annual. The current market rate for similar bonds is 10.4 percent. What is the maximum price that should be paid for this bond? Is the bond selling at a premium and why?

Is the answer D right?A hypothetical Futures contract on a non-dividend paying stock with current price $90 has a maturity of two and a half years. If the T-bill rate is 4% what should the futures price be? A. $89.354B.$93.461C. $97.365D. $99.272E. $101.466

Land & Buildings 50,000 Page 4: 7 v Page 5: 9 10 Refer to the information above to answer this question. Assume the target reserve ratio is 8 percent. By how much can this bank safely expand its loans? $6,000. $60,000. $4,800

A company invested $3.5 million in a five-year project. It expects that this project will produce savings of $4.4 million by the end of the five-year period. If inaon is expected to be 3.0% per year, what is the nominal IRR of this investment

Two bonds, each with a face value of $20000, are redeemable at par in n-years and priced to yield j4 = 6.4%. Bond 1 has a coupon rate j4 = 7.6% and sells for $21187.98. Bond 2 has coupon rate j4 = 5.2% and sells for $ P. What is the value of P?

Death By Chocolate sells its $4,000,000 accounts receivable to a bank for much needed cash at a 4% discount. The average collection period is two months. What is the effective annual rate that the bank is charging Death by Chocolate for the required cash

The Great Eastern Company (GEC) has a capital structure which is based on a debt-equity (D/E) ratio of 2/3. The after-tax cost of debt is 6.50 percent and the cost of common stock is 16.50 percent. GEC is considering a project that is equally as risky as the overall firm. The project requires an initial investment of $400,000 and will generate

Please complete the financial analysis table. Fill in the Group Average column and Total Revenue chart using the information included and the strategical formulas. Table 1 Financial Analysis Table Group Avg Pepsi Co. Coca-Cola Keurig Monster Net Income $2.224B $2.471B $0.530B 0.337B Quick 0.77 1.32 0.27 4.20 ROA 8.81 9.84 3.45 22.42 ROE 55.20

Below is PTCG Ltd performance informaiton. 1. 5 year record of Sales Net Sales 2022 2021 2020 2019 2018 861,000 805,000 681,000 719,000 737,000 2. 5 year record of Cost of Goods sold Cost of goods sold 2022 2021 2020 2019 2018 516,000 511,000 491,000 450,000 471,000 3. A set of financial reports for years ending 30 June 2021 and 2022,

An economist has forecast that the term structure of interest rates will remain flat. (a) Discuss what is meant by a 'yield curve' and how it is constructed. (20 marks) (b) Discuss why an understanding of yield curves is crucial to a fixed Income trader. (20 marks) (c) Summarise your understanding of the liquidity preference theory. (20 marks) (d)

Today the stock of Apple can be bought for $229.24. Assume that next 2 years the company will pay dividend of $3.08. Assume that after 2 year the price will be $320.99. Should you buy this stock if you are as the investor's type a bank? Please show the calculation.

When running a CAPM regression for stock ABC, you should: a. regress stock ABC's excess returns on the market excess returns b. regress stock ABC's raw returns on the market raw returns c. regress stock ABC's excess returns on the market raw returns b. regress stock ABC's raw returns on the market excess returns

A company has a nominal discounting rate of 20%. By law it has to buy a machine tosterilize the instruments used in its manufacturing process. It will buy one of two machines, and once it has decided which machine to buy, will continue to do so in perpetuity. Machine A costs $800 today, and will incur operating costs of $300 per year in real terms

Use the coin flip example to show why diversification lowers risk without sacrificing expected return.

Calculate free cash flows to equity, abnormal earnings, and abnormal earnings growth for the years 2014-2016. Assume that in 2017 Hugo Boss AG liquidates all its assets at their book values, uses the proceeds to pay off debt and pays out the remainder to its equity holders. What does thisassumption imply about the company's: Free cash flow to

Suppose that managers of XYZ think their firm's shares are currently overvalued, and suppose that their sole objective is to maximize value for their ongoing, long-term share holders. (i) Assume that managers of XYZ decide to raise some capital through either (a) equity or (b) debt. Which will they prefer? Why? (ii) Under policy (a) in part (i),

Sleep Easy Inc. currently offers terms of sale of 3/30, net 90 to its customers who buy their top-end mattresses. What is the effective annual rate charged to its customers who take the full 90 days to pay?

Last year, Delightful desserts had a quick ratio of 1.8, a current ratio of 5.0, an inventory turnover of 7.0, total current assets of $340,000, and cash and equivalents of $43,000. If the cost of goods sold equaled 80 percent of sales, what were the company's annual sales and DSO? Please explain the problem with layman's terms of divide and

A business issued a $7,453, 60-day, 7% note to the bank. The amount due at maturity is (round to the nearest dollar):

Capital Budgeting Analysis As she headed toward her boss's office, Emily Hamilton, chief operating officer for the Aero tech Corporation - a computer services firm that specialized in airborne support - wished she could remember more of her training i n financial theory that she had been exposed to in college. Emily had just completed summarizing

18 O Lloyd has two sets of grandparents: his mother's parents and his father's parents. Each set of grandparents wishes to establish an RESP for Lloyd. What is the lifetime cumulative MAXIMUM the grandparents can contribute to RESPs on behalf of Lloyd? O a) $0-the subscriber to an RESP must be the parent of the beneficiary. O b) $50,000 O c) Each

The equipment required for a four year project costs $60,000 and belongs in a 20% CCA class. It will be sold for $7,000 at the termination of the project. The project generates additional operating income of $20,833. If the firm has a tax rate of 34% and a required return of 10%, what is the NPV? A. $265 B. $1,133 C. $1,839 D. $2,261 E. $2,842

Which statement(s) is(are) true about mutual fund capital gain distributions? I. They are paid every 3 months (quarterly capital gains distributions). II. Many investors are surprised by this tax effect because they have not actually received any capital gains since the money is reinvested by the professional money manager. III. Difficult for a

Suppose you invest $100 at the beginning of every month at 12% compounded monthly and you begin this investment when you just turned to 21 years old.How much would you accumulate when you reach the age of 65?

Assume that a company has an existing portfolio A with an expected return of 9% and a standard deviation of 3%. The company is considering adding an asset B to its portfolio. Asset B's expected return is 12% with a standard deviation of 4%. Also assume that the amount invested in A is $700,000 and the amount to be invested in B is $200,000. If the

Merry Industries is considering a new piece of equipment for a project lasting 10 years with details as shown below. The costs and benefits are expected to keep increasing with the inflation rate even when a new machine is put into operation. Taking these into account, what is the annual worth that the company can expect from the machine? Initial

Precision Instruments is considering two mutually exclusive projects, X and Y. The following details are made available to you: Project X Project Y Project cost 700 700 Cash inflows: Year 1 100 500 Cash inflows: Year 2 200 400 Cash inflows: Year 3 300 200 Cash inflows: Year 4 450 100 Cash inflows: Year 5 600 100 Assume no residual values at the

Find the IRR of a three-year investment of $10,000 that returns the following amounts at the end of each of the three years. What do you conclude? (a) $400, $500, $10,600 (b) $500, $600, $10,400 (c) $600, $400, $10,500 (d) $600, $500, $10,400

Sarah would like a loan with monthly PITI payments of $1,400. Her stable monthly income is $5,000. She also has a monthly student loan payment of $300 and a monthly auto loan payment of $200. Assume that the lender is going to manually underwrite the loan, applying the standard maximum income ratios for a conventional loan. 6. Would she qualify

Table3.1Balance SheetCole Eagan Enterprises12/31/2013Cash$4,500.00Accounts Payable$10,000.00Accounts ReceivableNotes PayableInventoryAccruals$1,000.00Total Current AssetTotal Current LiabilitiesNet Fixed AssetsLong-Term DebtTotal assetsStockholders' EquityTotal Liablitiles &S.E. Information (2013 values) Sales totaled $110,000 The gross profit

19. Jacqueline's goal is to be able to generate $75,000 per year in today's dollars during her retirement years. Shee plan to retire at age 60 (37 years from now) and have a life expectancy of 28 years beyond retirement. Inflation is expected to average 3%. How much will Jacqueline need to accumulate by her target retirement date if she earns 6%

The Expresso Roast Corporation is considering the purchase of a new bean roaster and grinder. The revenues are expected to be the same for Expresso Roast no matter which machine is acquired. The Quick-Roast machine has a cost of $75,000 and is expected to last 4 years with operating costs of $12,000 per year. The Mellow-Roast Co. machine has a

Match the correct term with its explanation/definition. - A. B. C. D. scenario analysis - A. B. C. D. Sensitivity analysis - A. B. C. D. Equivalent annual annuity - A. B. C. D. Capital rationing A. Risk analysis technique in which the best and worst-case NPVsare compared with the project's expected NPV B. Risk analysis technique that shows the

1. Calculate the free cash flows from an operating perspective for the company for 2016. 2. Calculate the ratios for 2015 and analyze and compare these ratios to the industry ratios. 3. As a supplier of materials to Johnson company would you still give it credit? 4. As a banker, will you give Johnson a loan in 2016 ? Explain in detail the

what is monthly interest payment on a 5 month note payable of $122,400 with proceeds of $114,900 using discount rate

Sean makes a down payment of $10,000 on a $200,000 home. What is Sean's mortgage loan insurance if the mortgage loan insurance premium is a rate of 3.15%? Points: 1 $4,725 $5,985 $10,000 $6,300

If NORDAM has $2.5 billion in cash, $1.2 billion in outstanding debt, and 400 million shares outstanding, what is your estimate for the current value of one share of NORDAM stock? $55.22 $48.72 $61.22 $20.79

Speculation with a futures contract Before any trading, George begins with a margin account balance of $0. On May 1, George believes that silver will appreciate in the next 4 days. On May 1, George takes a long position in a futures contract for silver with a futures price of $10/ounce. Each contract is for 1000 ounces of silver. The initial

Match the terms in column A with the description in column B A Marketability of borrowing B Estate freeze C Liquidity D Leverage E Tax leverage F Risk management G Estate tax-free wealth transfer 1 . Boosts investment return by deferring taxes 2 . Earning rate of return greater than the cost 3 . Protecting ground gained without giving up much in

Patty and John are divorced. They have one daughter, Reese, who spends exactly nine months of the year living with her mother and exactly three months of the year living with her father. Patty has an AGI of $200,000 and John has an AGI of $150,000. Who can claim Reese as a qualifying dependent for the child tax credit? a. Patty. b. John. c. Both

The joint hypothesis problem implies... a. All asset pricing models are incorrect b. Market efficiency must be relative to an asset pricing model c. Mispricings must be driven by missing risk d. Markets are inefficient

You buy one AIG December 40 call contract and one AIG December 40 put contract. The call premium is $6.75 and the put premium is $12.55. Your highest potential loss from this position is . A. $675B. $1,930C. $1,255D. $580E. $4,000

Calculate the expected rates of return for the low, average, and high risk stocks: a. Risk free rate = 4.5% b. Market risk premium = 12.5% c. Low risk beta = 0.5 d. Average risk beta = 1.0 e. High risk beta= 1.6

Would the Altman-type Z-score model (and its variants) be suitable for predicting distress among private firms? Why or why not?

Bysan Inc. expects to sell 350,000 foldable cellphones this year. The cost of placing an order from its supplier is $1,200. Each phone costs $950 and carrying costs are 10% of the purchase price. What is the economic order quantity?

You are arranging, with Richvale Bank, a 5-year $450,000 Canadian mortgage with a 25-year amortization period and a quoted interest rate of 4.25 percent. What is your monthly mortgage payment?

Bonds issued by Patriot Theaters were priced at $972.00 twelve months ago and $953.00 six months ago and are priced at $993.04 today. The bonds have a face value of $3000, pay semi-annual coupons, and just made a coupon payment. The bonds had a percentage return over the past six months (from 6 months ago to today) of 7.00%. What is the coupon

You are a portfolio manager of a prestigious Investment Management company, and two of your clients have reached you to share their thoughts about their portfolio performances: Mathew: "Hello, I have lost a lot of money in the last two quarters! I know that I asked you to invest my money into a very aggressive mutual fund even though you said that

Your firm has a beta of 1.5 and you are considering an investment project with a beta of 0.8. Answer the following questions, assuming that short term Treasury bills are currently yielding 5% and the expected return on the market is 15%. a. What is the appropriate required rate of return for your company per the capital asset pricing model? b.

A stock is selling today for$80 per share. At the end of the year, it pays a dividend of $4 per share and sells for $92. Required: a. What is the total rate of return on the stock? b. What are the dividend yield and percentage capital gain? c. Now suppose the year-end stock price after the dividend is paid is$76. What are the dividend yield and

Five years ago a borrower incurred a mortgage for $80,000 at 10% for 30 years, monthly payments. Currently the market rate is 8% on 25-year mortgages. The existing mortgage has a prepayment penalty of 5% of the outstanding balance and the lender will charge 4% financing cost on a new loan. If the borrower plans to hold either mortgage for 8 more

YYY is a company considering a new capital budgeting project. The project requiresan initial investment in a machine with a cost of $250,000. The machine will last for tenyears, after which it can be salvaged for the risk-free (nominal) value of $50,000. Itbelongs to a CCA asset class with CCA rate 20%, and the firm will continue to haveassets in

Lucas Jones is considering an investment that pays 22000 two years from now. If his opportunity cost is 6 percent per year, what is the maximum price he should pay for this investment today?

The XYZ bond pays interest semiannually. Its par value is $1,000, it has a coupon rate of 6.5% and is currently quoted at 101.23. What is the current yield on this bond?

Maple Green Corporation pays a dividend of $1.25 per share based on earnings per share (EPS) of $6.25. If Maple Green's sustainable growth rate is 12 percent, what is the corporation's return on equity (ROE)? a. 24 percent b. 20 percent c. 40 percent d. 15 percent e. 80 percent

OMG Inc. has 4 million shares of common stock outstanding, 3 million shares of preferred stock outstanding, and 5,000 bonds. Suppose the common shares sell for $17 per share, the preferred shares sell for $16 per share, and the bonds sell for 108 percent of par. What weight should you use for preferred stock in the computation of OMG's WACC?

Jones, the investor, proposes taking participating preferred stock1 with 1x liquidation preference in return for her $5 million investment. Draw the payoff diagram for this security from Jones' perspective, assuming she invests $5 million at a pre-money valuation of $14.75 million with no option pool. b. What is her cash-on-cash return (money

suppose you wish to save $2,000 at the end of five years by making the following deposits: Year Deposits 1 100 2 400 3 400 4 400 5 300 What interest rate must you earn?

A pension fund purchased an office block nine months ago for $5million .The refurbishment in two months time . A company has agreed to occupy the office block six months from now .The lease agreement states that the company will rent the office block for fifteen years and will then purchase the property at the end of the fifteen year rental period

a. If you invest $1000 a year at the end of each year for the next twenty-five years in a broadly-based stock market fund which historically has earned 8% per year, how much will you expect have at the end of these 25 years if you believe stock market history is an excellent guide to the future? b. You are seriously considering setting up your own

Research an existing public company and analyze their financial performance. Discuss the current valuation of the organization. So you will analyze their return on assets, return on equity, cost analysis, and other concepts using the financial statements. You will need to make sure you understand the historical data as well as the present. Once

Did VOO track S&P500 well from 2016 to 2020? Use statistical analysis to justify your answer. You may use historical data from Yahoo finance to do this

What do the spreads between Treasuries and Corporates, or between High Quality corporate rates and Baa rates inform us about risk premiums, risk premium, expectations of inflation?

I need help solving the average current yield for a corporate bond. Below is my prompt: "Based on the bonds' current YTM, calculate the average current yield." Below is the bond info I am working with: The Amazon.com Inc.-Bond has a maturity date of 8/22/2027 and offers a coupon of 3.1500%.The payment of the coupon will take place 2.0 times per

You Consider investing a company and want to estimate the financial health status of this company. The current assets of the company is 179,000 and current liability is 9,000. Total assets are 670,000. Earnings before interest and taxes are 60,000. Sales are 2,200,000. The market value of equity is 380,000. Total liabilities are 240,000. The

You are a staff accountant for Totally Chemical, a small organization specializing in swimming pool chemicals. In a meeting last week, the vice president of operations indicated that the organization is looking to expand into the trucking business so that Totally Chemical can increase its client base. The vice president has asked you to perform a

Today, you purchased a bond for $979.21. The bond matures in 5 years, has a 6.5 percent coupon (payable semiannually), and a face value of $1,000. If you hold the bond to maturity, what annual real rate of return will you earn if inflation remains constant at 2%?

We have the following information. The spot exchange rates now and expected in a year from now between the South African rand and the Mali West African franc (CFA) is .02and .025 S. A. rand per CFA. The forward rate between the two currencies is .225 S.A.randper CFA. How would we speculate in the spot markets and in the forward one to attain a

Use the annuity formula to calculate the monthly mortgage payment on a $600,000, thirty-year home mortgage if the annual rate is 6%. Assuming you paid off your mortgage over thirty years, how much total interest (in dollars) did you pay?

Lloyd has two sets of grandparents: his mother's parents and his father's parents. Each set of grandparents wishes to establish an RESP for Lloyd. What is the lifetime cumulative MAXIMUM the grandparents can contribute to RESPs on behalf of Lloyd? a) $0-the subscriber to an RESP must be the parent of the beneficiary. 0 b) $50,000 c) Each set of

How do you calculate yield to maturity of a bond issued, modified duration and duration? And how do you calculate value when its yield is at 5%. If these are the variables associated with the bond.. Amount 125 Million Issue Price 99.731% Date 2/24/2014 Settlement Date 2/24/2014 Maturity 2/24/2021 Annual Coupon 5.5% Yearly Installment 2/24 1st

Today, Malorie takes out a 20-year loan of $200,000, with a fixed interest rate of 3.9% per annum compounding monthly for the first 3 years. Afterwards, the loan will revert to the market interest rate. Malorie will make monthly repayments over the next 20 years, the first of which is exactly one month from today. The bank calculates her current

Smart' Ltd. Has just paid a dividend of 0.22 per share. The market expects this dividend to grow constantly in each future year at the rate of 7% p.a. The cost of capital for Smart' Ltd. is currently 9%. As soon as the dividend was paid, however, the Board of Smart' Ltd. decided to finance a new project by retaining the next three annual dividend

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