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The Pound spot rate is $1.56. The one-year forward rate is $1.60. The one-year nominal U.S. interest rate is 3%. The one-year nominal UK interest rate is 5%. What is the profit per dollar from covered interest arbitrage?
The ABC Corporation has been in operation for one full year (2013). Financial statements follow. ABC’s management is interested in determining the value of the venture as of the end of 2013. Sales are expected to grow at a 20 percent annual rate for ..
What are the direct quote and indirect quote of the U.S. dollar versus the currency whose issuing country's name starts with the same letter (or closest letter) as your own last name.
Senior managers of the subsidiary are employees of Qing Corporation who have been transferred to the subsidiary for a tour of international service. Is the functional currency of the subsidiary the peso or the U.S. dollar? Explain your reasoning
Set up the amortization schedule for a five-year, $1 million, 9 percent term loan that requires equal annual end-of-year principal payments plus interest on the unamortized loan blaance. What is the effective interest cost of this loan?
You observe that a company has entered into futures contracts where the company is obligated to sell more of the commodity it produces than the volume they actually expect to produce. How might this be justified? What if instead you observed that a c..
What is the coupon rate if interest is paid semiannually?
What is the maximum annual maintenance expense that you could afford to spend on your car over its life in order to reduce the cost of the periodic major engine overhauls by $300? Assume the car has a life of nine years and overhauls occur every thre..
On July 10, a foreign trade company has signed a sales contract (CIF) worth 150,000 USD with foreign investors, and the payment shall be made through irrevocable letter of credit. The contract provided for our goods should be shipped out in August. ..
Keenan Industries has a bond outstanding with 15 years to maturity, an 8.25% nominal coupon, semiannual payments, and a $1,000 par value. The bond has a 6.50% nominal yield to maturity, but it can be called in 6 years at a price of $1,150. What is th..
Last year you bought a share of Apple Inc. stock at the price of $430. Because of the launch of new MacBook, Apple's stock price raised to $490 yesterday and you sold your share. Suppose Apple did not pay any dividend last year, what is your holding ..
An oil drilling company must choose between two mutually exclusive extraction projects, and each costs $11.8 million. Under Plan A, all the oil would be extracted in 1 year, producing a cash flow at t = 1 of $14.16 million. Does this imply that the W..
The Nebraska Institute of Science (NIS) pools all of its endowment funds so that it can obtain the benefits of a large and diverse investment portfolio. Suppose NIS charged depreciation and distributed to expendable funds the entire ‘‘income’’ earned..
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