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Suppose that you enter into a long position on a 6-month pound forward today and lock-in the price of $1.50 (the forward rate). If at the maturity (6 month from now) the spot rate turns out to be $1.62, what is your gain or loss? The contract size is 100,000 pounds.
Vedder, Inc., has 7.2 million shares of common stock outstanding. The current share price is $62.20, and the book value per share is $5.20. Vedder also has two bond issues outstanding. The first bond issue has a face value of $71.2 million, a coupon ..
Wallace Container Company issued $100 par value preferred stock 10 years ago. The stock provided a 6 percent yield at the time of issue. The preferred stock is now selling for $62. What is the current yield or cost of the preferred stock? (Disregard ..
Interest rates on 4-year Treasury securities are currently 6.6%, while 6-year Treasury securities yield 7.3%. If the pure expectations theory is correct, what does the market believe that 2-year securities will be yielding 4 years from now? Calculate..
Stock in Dragula Industries has a beta of 1.2. The market risk premium is 9 percent, and T-bills are currently yielding 4.60 percent. The company’s most recent dividend was $1.80 per share, and dividends are expected to grow at a 8.0 percent annual r..
Suppose that a central bank's policy is to allow an exchange rate to fluctuate between 0.97 and 1.03. What pattern of implied volatilities for options on the exchange rate would you expect to see?
A 700 par value 5 year 10% bond with semiannual coupons is purchased for 670.60. The present value of the redemption is 372.05. Calculate the redemption value.
Mary is running a retirement community and is negotiating with a client, Jimmy, who wishes to reside at Mary’s community when he retires in ten years at age 65. Actuarial statistics indicate that Jimmy will probably die at age 85. Calculate the prese..
US Silver mines silver at a total cost of $9 per ounce. To hedge their sale price, US Silver uses a collar strategy by buying Puts with strike $9.75 and selling Calls with strike $10.25. The respective premia are P = 0.246 and C = 0.374. Assume that ..
Enterprise Storage Company has 440,000 shares of cumulative preferred stock outstanding, which has a stated dividend of $7.75. it is six years in arrears in dividend payments. How much in total dollars is the company behind in its payments? $20,460,0..
You have decided to put a $100 a week into a savings account that offers 2.6% compounded weekly. How much would you have in your account after 6 years? Using problem 2 how much would you have if you were to make your first payment today, i.e. made it..
A variable annuity contract can be defined as a contract in which the insurance company varies the annuity payments based on the net income of the insurance company. If the net income of the insurance company increases, then the annuity payments asso..
The forecast for your firm indicates there's a 20% chance that Net Income will be $200,000, a 50% chance it will be $300,000, and a 30% chance it will be $400,000. Assume your firm is zero-growth and pays all its net income in dividends each year Als..
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