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Consider the following four investments. a) You invest $3,000 annually in a mutual fund that earns 10 percent annually, and you reinvest all distributions. How much will you have in the account at the end of 20 years? b) You invest $3,000 annually in a mutual fund with a 5 percent load fee so that only $2,850 is actually invested in the fund. The fund earns 10 percent annually, and you reinvest all distributions. How much will you have in the account at the end of 20 years? (Assume that all distributions are not subject to the load fee.) c) You invest $3,000 annually in a no-load mutual fund that charges 12b-1 fees of 1 percent. The fund earns 10 percent annually before fees, and you reinvest all distributions. How much will you have in the account at the end of 20 years? d) You invest $3,000 annually in no-load mutual fund that has a 5 percent exit fee. The fund earns 10 percent annually before fees, and you reinvest all distributions. How much will you have in the account at the end of 20 years? In each case you invest the same amount ($3,000) every year; the fund earns the same return each year (10 percent), and you make each investment for the same time period (20 years). At the end of the 20 years, you withdraw the funds. Why is the final amount in each mutual fund different?
Suppose the Federal Reserve purchases $10 billion worth of foreign currency in exchange for deposit accounts at the Federal Reserve. Show the changes that result from this transaction on the Fed’s balance sheet
Assume you work for an old established company with a traditionally based pay system. Would you rather have a seniority-based pay system or a merit-based pay system and explain why?
Why do firms or individuals involved in farming need to borrow? What type of inventory does a farmer need?
Demand for Blow Pops has increased to the point where Tootsie Roll industries is considering buying a new plant solely devoted to Blow Pops. Tootsie receives a wholesale price of $0.45 for each Blow Pop delivered to its distributor. What annual produ..
A company wants to raise $350 million in a new stock issue. Its investment banker indicates that sale of the new stock will require 20% under pricing an dan 8% spread. if the company’s stock price does not change from its current price of $35 per sha..
The following are three one-year “discount” loans that a bank might offer to the customer. Determine the amount of interest the bank would make on each loan and indicate the amount of net proceeds that the bank would pay out on each loan. At what dis..
App Store Co. issued 16-year bonds one year ago at a coupon rate of 7.7 percent. The bonds make semi-annual payments. If the YTM on these bonds is 5.4 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer..
At the beginning of the year, a firm has current assets of $330 and current liabilities of $234. At the end of the year, the current assets are $497 and the current liabilities are $274. What is the change in net working capital?
After rallying for most of February to reach record highs in the month, the s&p 500 stock index fell sharply on Friday march 6 following news that the economy added 295,000 jobs, bringing the unemployment rate down to 5.5%. Analysts were expecting jo..
Assuming Home Depot's 2008 interest expense is $696 million Lowes' interest expense is $239 million and a 36 percent tax rate for both firms, what is their break-even level of operating income.
A CFO rejects the idea of a company going private, believing that a large share repurchase program funded by issuing long-term debt would please the shareholders and raise the stock price. What would be an argument against the CFOs belief? And what i..
Five years ago, you purchased 600 shares of stock. The annual returns have been 7.2 percent, -19.4 percent, 3.8 percent, 14.2 percent, and 27.9 percent, respectively. What is the variance of these returns?
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