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A bank offers a corporate client a choice between borrowing cash at 11 % per annum and borrowing gold at 1 % per annum (If gold is borrowed, interest must be repaid in gold). Suppose that the risk-free interest rate is 9 % per annum, and storage costs are 0.48 % per annum, the spot price of gold is $ 1,200 per ounce and the corporate client wants to borrow $ 991,162 for 4 years. Calculate the difference between cost of borrowing in cash and cost of borrowing in gold (in dollar amount). Note in calculating the difference, deduct the cost of borrowing in gold from the cost of borrowing in cash. All rates are quoted in continuously compounding. Round your final answer to 2 decimal places only.
What are the major objectives of a budget system? Describe the features of cash, revenues and expenditures. Give examples of each category with a linked budget objective. Consider the first line example in this table. Complete the table describing t..
Walker Industries has a bond outstanding with 12 years to maturity, a 9% coupon paid semiannually, and a $1,000 par value. The bond has a 7% nominal yield to maturity, but it can be called in 3 years at a price of $1,045. What is the bond's nomina..
on may 1 2014 a company purchased a new machine that it does not have to pay for until may 1 2016. the total payment
From the first e-Activity, examine and evaluate the disparity of your state's budget allocation for education and property tax to the various localities.
Explain the tools the Fed uses to control interest rates and the money supply, and compare the positive and negative effects of their application.
Please describe the process you plan to use to conduct research, identify findings, and develop the Comprehensive Project due in Part 2 and present a brief outline indicating how you intend to organize the project deliverable.
Find the following by assuming monthly compounding. Find the risk neutral probability for the up move in first step.
management of daviss department store has used time-series extrapolation to forecast retail sales for the next four
kate has been employed by a well-known manufacturing company for 12 years. she is the only female on her line and the
Assume the following represents the historical returns for Microsoft and Lotus Development Company, determine the mean return for Microsoft and Lotus?
Show how to realize a certain profit via covered interest arbitrage, assuming that you want to realize profit in terms of U.S. dollars. Also determine the size of your arbitrage profit. Assume that you want to realize profit in terms of euros. Show t..
the income statement for j and t seafood appears below.jand t seafoodincome statementfor the year ended december 31
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