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Midwest health club (MHC) offers 1-year memberships. Membership fees are due in full at the beginning of the individual membership period. As an incentive to new customers, MHC advertidsed taht any customers not satisfied for any reason could receive a refund of the remaining portion of unused membership fees. As a result of this policy, Richard Nies, corporate controller, recognize revenue ratably over the life of the membership. MHC is in the process of preparing its year-end financial statements. Rachel Avery, MHC's treasurer, is concerned about the company's lackluster performance this year. She reviews the financial statements Nies prepared and tells Nies to recognize membership revenue when the fees are received. a. What are the ethical issues involved? b. What should Nies do?
Suppose the following bond quotes for IOU Corporation appear in the financial page of today’s newspaper. Assume the bond has a face value of $2,000 and the current date is April 19, 2015. Company (Ticker): IOU, Coupon:7, Maturity: Apr 19, 2028, Last ..
Suppose the average return on an asset is 12.1 percent and the standard deviation is 21.7 percent. Further assume that the returns are normally distributed. Use the NORMDIST function in Excel to determine the probability that in any given year you wi..
Ross wants to buy a car worth 50 000 by financing it over a period of 36 months. The bank offers Ross an interest rate of 20% per annum, compounded monthly. They also offer him a 6 month grace period. Calculate his monthly installment.
If you deposit money today in an account that pays 6% annual interest, how long will it take to double your money? Round your answer to two decimal places.
Suppose that the annual interest rate is 2.0 percent in the United States and 4 percent in Germany, and that the spot exchange rate is $1.60/€ and the forward exchange rate, with one-year maturity, is $1.58/€. Assume that an arbitrager can borrow up ..
Neptune Biometrics, despite its promising technology, is having difficulty generating profits. Having raised $85 million in an initial public offering of its stock early in the year, the company is poised to intro- duce a new product, an inexpensive ..
Compute the CAPM-β of the portfolio with respect to the market
If a corporation begins to suffer large losses, then the default risk on the corporate bond will increase. Illustrate graphically how this event affects the demand or supply what happens to equilibrium price and interest rate of the bond according.
How much would you be willing to pay for this investment if you required a 12 percent rate of return? If the payments were received at the beginning of each year, what would you be willing to pay for this investment?
What is the beta of Stock A given the following returns of the market and Stock A in two states of the economy?
You deposit a sum of $10,000 today in your bank safe deposit box and leave it there. You learn nothing in your bank account as the money is sitting inside the safe deposit box. Assumes that inflation rate is running at 14% a year. How much will your ..
Currency Futures Definition. What are currency futures? How do they differ from currency forwards?
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