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1. BB Industries receives an invoice dated November 18 for $2,250.00 with credit terms of 3/15, 2/25, N/45. A 5 1/4% penalty is charged for payments made after 45 days. Assuming payment is made on January 3, the amount due is:
a. $2,250.00
b. $2,368.13
c. $2,205.00
d. $2,182.50
e. None of the above
2. You have an equity portfolio valued at $1.55 million that has a beta of 1.21. You have decided to hedge this portfolio using SPX call option contracts. The S&P 500 index is currently 1457. The option delta is .6435. How many option contracts must you write to effectively hedge your portfolio?
18 contracts
20 contracts
28 contracts
25 contracts
14 contracts
A 6.5% coupon bearing bond that pays interest semi-annually has a yield to maturity of 4.8% per year. If the bond has a duration of 11.4 years and the market yield decreases 90 basis points, calculate an estimate of the percent price change due to du..
You have been asked to analyze the following potential project. The expected cash flow stream is $20,000 for year 1 with an expected 4% growth rate per year for the next 3 years. If your cost of capital is 10%, how much would you be willing to invest..
Mary Watson is 24 years old and single lives in an apartment and has no dependents. Last year she earned 45,000 as a sales assistant for focus to business analytics: $3910 of her wages was withheld for federal income taxes. In addition, she had inter..
A house painting business had revenues of $17,600 and expenses of $10,600 last summer. There were no depreciation expenses. However, the business reported the following changes in working capital:
Which one of the following will increase the current value of a stock?
At other casinos, the dealer is required to take a hit on soft 17, but must stay on all other hands with a value of 17, 18, 19, 20, or 21. For this situation, determine the probability of the ending value of the dealer's hand.
Your firm is considering an investment that will cost $920,000 today. The investment will produce cash flows of $450,000 in year 1, $270,000 in years 2 through 4, and $200,000 in year 5. The discount rate that your firm uses for projects of this type..
A call with a strike price of $70 costs $7.38. A put with the same strike price and expiration date costs $3.56. If you create a straddle, what is the initial cash flow? If it's a cash outflow, answer in a negative number.
If the Open to buy for each month is : February: $30,400.00 March: $31,250.00 April: $127,800.00 May: $162,000.00 June: $377,550.00 July: $127,500.00. Using the figures provided you will calculate the following for the XYZ store. Average monthly sale..
A bond has a $1,000 par value, 7 years to maturity, and a 9% annual coupon and sells for $1,095. What is its yield to maturity (YTM)?
The chief drawback of not taking a cash discount for early payment of an invoice is -
Are there any good reasons to have Federal Reserve banks scattered around the country rather than having everything run by the Board of Governors in Washington, D.C.? What are the costs and benefits?
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