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The National Credit Union has $250,000 available to invest in a12-month commitment. The money can be placed in Treasury notesyielding an 8% return or in municipal bonds at an average rate ofreturn of 7%. Credit union regulations require diversification tothe extent that at least 50% of the investment be placed inTreasury notes. Because of defaults in such municipalities asCleveland and New York, it is decided that no more than 40% of theinvestment be placed in bonds.
(a) How much should the National Credit Union invest in Treasury notesso as to maximize its return on investment?
(b) How much should the National Credit Union invest in municipal bondsso as to maximize its return on investment?
(c) What is the maximal return on investment?
They sold the house in May for $795,000. Broker's commissions and other selling expenses amounted to $45,000. Since they both are age 68, they decide to rent an apartment. They purchase an annuity with the net proceeds from the sale. What is the r..
Finch Corp. sells portable air filtration systems by means of internet and direct mail orders. Most of the components are purchased from foreign suppliers at a cost of $1,600-What is Finch's DPGR per unit? It's QPAI? How could this result have been..
On December 31, 2011, Henry, a sole proprietor, sold for $65,000 a machine that was used in his business. The machine had been purchased in 2003 for $50,000, and when it was sold it had an adjusted basis of $30,000. For the year 2011, how should t..
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Among the short-term obligations of Lance Company as of December 31, the balance sheet date, are notes payable totaling $250,000 with the Madison National Bank. These are 90-day notes, renewable for another 90-day period. What should these notes s..
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When using classical variables sampling for estimation, an auditor normally evaluates the sampling results by calculating the possible misstatement in either direction. This statistical concept is known as
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Prepare an absorption costing income statement for the quarter ending March 31 as shown in Schedule 9 in the chapter. Prepare a balance sheet as of March 31
The Andersons retain you to compute their tax liability for 2007. They are expecting to pay less tax than usual for several reasons. First, both became 65 during the year.
What are the Euro Currency Markets and how is it employed in global financing operations and explain its importance in manageing risks?
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