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Danh sách Quiz

1. TYPE 1: Calculate Cash Flow from Asset

Ex1.1: Bonner Collision has shareholders' equity of $141,800. The firm owes a total of $126,000 of which 60 percent

is payable within the next year. The firm net fixed assets of $161,900. What is the amount of the net working capital?

NWC=CA-CL ................................................................................................................................................................

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Ex1.2: Crandall Oil has total sales of $1,349,800 and costs of $903,500. Depreciation is $42,700 and the tax rate is

34 percent. The firm does not have any interest expense. What is the operating cash flow?

OCF=EBIT+Depreciation-taxes bill .............................................................................................................................

EBIT=Rev-COGS-Deprecition .....................................................................................................................................

Taxes bill=Tax rate x Taxable income .........................................................................................................................

Taxable income= EBIT-Interest Rate ...........................................................................................................................

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Ex1.3: What is the cash flow from assets for 2011 of M&M Foods

CFFA=OCF-NCS-deltaNWC ........................................................................................................................................

OCF=EBIT+Depreciation-Taxes bill ............................................................................................................................

EBIT=Revenue-COGS-Depreciation ...........................................................................................................................

NCS=Beginning net fixed assets-Ending net fixed assets+Depreciation ......................................................................

Delta NWC= NWC(sau)-NWC(trước) ..........................................................................................................................

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2. TYPE 2: Time value of money (Finding FV, PV of Annuity and Perpetuity)

Ex 2.1: You just won the grand prize in a national writing contest! As your prize, you will receive $2,000 a month

for ten years. If you can earn 7 percent on your money, what is this prize worth to you today?

C:2000 ............................................................................................................................................................................

T=10 x 12 .......................................................................................................................................................................

R=7%/12 ........................................................................................................................................................................

PV=? ..............................................................................................................................................................................

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Ex 2.2: Alex plans on saving $3,000 a year and expects to earn an annual rate of 10.25 percent. How much will she

have in her account at the end of 45 years?

C=3000 ..........................................................................................................................................................................

R= 10.25 ........................................................................................................................................................................

T=45 ...............................................................................................................................................................................

FV=? .............................................................................................................................................................................

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Ex2.3: You are planning to save for retirement over the next 35 years. To do this, you will invest $750 per month

in a stock account and $300 per month in a bond account. The return of the stock account is expected to be 10% per

year, and the bond account will pay 6% per year. When you retire, you will combine your money into an account

with a return of 5%. How much can you withdraw each month from your account assuming a 25-year withdrawal

period.

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Ex2.4: You borrow $165,000 to buy a house. The mortgage rate is 4.5 percent and the loan period is 20 years.

Payments are made monthly. If you pay the mortgage according to the loan agreement, how much total interest will

you pay?

PV=165000 ....................................................................................................................................................................

R=4.5 .............................................................................................................................................................................

T=20 ...............................................................................................................................................................................

Total interest=C x 12 x 20 ............................................................................................................................................

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Ex2.5: You buy an anuity that will pay you 24,000 a year for 25 years. The payments are paid on the first day of

each year. What is the value of this annuity today if the discount rate is 8.5 percent?

Tóm tắt

Bài làm

C=24000;

T=25;

r=8.5%

Note: first day of each year=bình thường x (1+r)

  󰇛

󰇛󰇜





)(1+r)

PV=2400

Ex2.6: You estimate that you will owe 45,300 in student loans by the time you graduate. The interest rate is 4.25

percent. If you want to have this debt paid in full within ten years, how much must you pay each month?

PV=45300 ......................................................................................................................................................................

R=4.25 ...........................................................................................................................................................................

Tìm C .............................................................................................................................................................................

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Ex 2.7: The Wine Press is considering a project which has an initial cash requirement of 187,400. The project will

yield cash flow of 2,832 monthly for 84 months. What is the rate of return on this project.

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3. TYPE 3: Bond Valuation

Ex3.1: Grand Adventure Properties offers a 9.5 percent coupon bond with annual payments. The yield to maturity

is 11.2 percent and the maturity date is 11 years from today. What is the market price of this bond if the face value

is $1,000?

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4. TYPE 4: Stock Valuation

Ex4.1: How much are you willing to pay for one share of Jumbo Trout stock if the company just paid a $0.70 annual

dividend, the dividends increase by 2.5 percent annually, and you require a 10 percent rate of return?

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Ex4.2: Free Motion Enterprises paid a $2 per share annual dividend last week. Dividends are expected to increase

by 20 percent in year 1 and 15% in year two. After that dividends are expected to increase by 3 percent annually.

What is one share of this stock worth to you today if your required rate of return is 13 percent? (3 points)

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Ex4.3: The current dividend yield on Clayton's Metals common stock is 3.2 percent. The company just paid a $1.48

annual dividend and announced plans to pay $1.54 next year. The dividend growth rate is expected to remain

constant at the current level. What is the required rate of return on this stock?

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5. TYPE 5: Capital Budgeting Techniques

Ex 5.1: You are considering the following two mutually exclusive projects. The required rate of return is 14.6

percent for project A and 13.8 percent for project B. The management numbers of payback and discounted payback

periods for both projects are 3 years. Which project should you accept based on NPV/ Payback/ Discounted Payback

Analysis.

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Ex 5.2: Day Interiors is considering a project with the following cash flows. What is the IRR of this project?

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6. TYPE 6: Compute expected return, SD of portfolio

Ex 6.1: What is the expected return and SD on a portfolio which is invested 25 percent in stock A, 55 percent in

stock B, and the remainder in stock C?

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Ex 6.2: You own a portfolio with the following expected returns given the various states of the economy. What is

the overall portfolio expected return and SD?

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1. TYPE 1: Calculate Cash Flow from Asset
Ex1.1: Bonner Collision has shareholders' equity of $141,800. The firm owes a total of $126,000 of which 60 percent
is payable within the next year. The firm net fixed assets of $161,900. What is the amount of the net working capital?
NWC=CA-CL ................................................................................................................................................................
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Ex1.2: Crandall Oil has total sales of $1,349,800 and costs of $903,500. Depreciation is $42,700 and the tax rate is
34 percent. The firm does not have any interest expense. What is the operating cash flow?
OCF=EBIT+Depreciation-taxes bill .............................................................................................................................
EBIT=Rev-COGS-Deprecition .....................................................................................................................................
Taxes bill=Tax rate x Taxable income .........................................................................................................................
Taxable income= EBIT-Interest Rate ...........................................................................................................................
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Ex1.3: What is the cash flow from assets for 2011 of M&M Foods
CFFA=OCF-NCS-deltaNWC ........................................................................................................................................
OCF=EBIT+Depreciation-Taxes bill ............................................................................................................................
EBIT=Revenue-COGS-Depreciation ...........................................................................................................................
NCS=Beginning net fixed assets-Ending net fixed assets+Depreciation ......................................................................
Delta NWC= NWC(sau)-NWC(trước) ..........................................................................................................................
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2. TYPE 2: Time value of money (Finding FV, PV of Annuity and Perpetuity)
Ex 2.1: You just won the grand prize in a national writing contest! As your prize, you will receive $2,000 a month
for ten years. If you can earn 7 percent on your money, what is this prize worth to you today?
C:2000 ............................................................................................................................................................................
T=10 x 12 .......................................................................................................................................................................
R=7%/12 ........................................................................................................................................................................
PV=? ..............................................................................................................................................................................
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Ex 2.2: Alex plans on saving $3,000 a year and expects to earn an annual rate of 10.25 percent. How much will she
have in her account at the end of 45 years?
C=3000 ..........................................................................................................................................................................
R= 10.25 ........................................................................................................................................................................
T=45 ...............................................................................................................................................................................
FV=? .............................................................................................................................................................................
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Ex2.3: You are planning to save for retirement over the next 35 years. To do this, you will invest $750 per month
in a stock account and $300 per month in a bond account. The return of the stock account is expected to be 10% per
year, and the bond account will pay 6% per year. When you retire, you will combine your money into an account
with a return of 5%. How much can you withdraw each month from your account assuming a 25-year withdrawal period.
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Ex2.4: You borrow $165,000 to buy a house. The mortgage rate is 4.5 percent and the loan period is 20 years.
Payments are made monthly. If you pay the mortgage according to the loan agreement, how much total interest will you pay?
PV=165000 ....................................................................................................................................................................
R=4.5 .............................................................................................................................................................................
T=20 ...............................................................................................................................................................................
Total interest=C x 12 x 20 ............................................................................................................................................
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Ex2.5: You buy an anuity that will pay you 24,000 a year for 25 years. The payments are paid on the first day of
each year. What is the value of this annuity today if the discount rate is 8.5 percent? Tóm tắt Bài làm C=24000;
Note: first day of each year=bình thường x (1+r) T=25; 1−(1+𝑟)−𝑡 𝑃𝑉 = 𝐶( )(1+r) r=8.5% 𝑟 PV=2400
Ex2.6: You estimate that you will owe 45,300 in student loans by the time you graduate. The interest rate is 4.25
percent. If you want to have this debt paid in full within ten years, how much must you pay each month?
PV=45300 ......................................................................................................................................................................
R=4.25 ...........................................................................................................................................................................
Tìm C .............................................................................................................................................................................
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Ex 2.7: The Wine Press is considering a project which has an initial cash requirement of 187,400. The project will
yield cash flow of 2,832 monthly for 84 months. What is the rate of return on this project.
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3. TYPE 3: Bond Valuation
Ex3.1: Grand Adventure Properties offers a 9.5 percent coupon bond with annual payments. The yield to maturity
is 11.2 percent and the maturity date is 11 years from today. What is the market price of this bond if the face value is $1,000?
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4. TYPE 4: Stock Valuation
Ex4.1: How much are you willing to pay for one share of Jumbo Trout stock if the company just paid a $0.70 annual
dividend, the dividends increase by 2.5 percent annually, and you require a 10 percent rate of return?
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Ex4.2: Free Motion Enterprises paid a $2 per share annual dividend last week. Dividends are expected to increase
by 20 percent in year 1 and 15% in year two. After that dividends are expected to increase by 3 percent annually.
What is one share of this stock worth to you today if your required rate of return is 13 percent? (3 points)
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Ex4.3: The current dividend yield on Clayton's Metals common stock is 3.2 percent. The company just paid a $1.48
annual dividend and announced plans to pay $1.54 next year. The dividend growth rate is expected to remain
constant at the current level. What is the required rate of return on this stock?
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5. TYPE 5: Capital Budgeting Techniques
Ex 5.1: You are considering the following two mutually exclusive projects. The required rate of return is 14.6
percent for project A and 13.8 percent for project B. The management numbers of payback and discounted payback
periods for both projects are 3 years. Which project should you accept based on NPV/ Payback/ Discounted Payback Analysis.
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Ex 5.2: Day Interiors is considering a project with the following cash flows. What is the IRR of this project?
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6. TYPE 6: Compute expected return, SD of portfolio
Ex 6.1: What is the expected return and SD on a portfolio which is invested 25 percent in stock A, 55 percent in
stock B, and the remainder in stock C?
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Ex 6.2: You own a portfolio with the following expected returns given the various states of the economy. What is
the overall portfolio expected return and SD?
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REVISION_PROBLEMS đã bổ sung

Tài liệu liên quan:

giao trinh quyen luc chinh tri-le minh quan-dai hoc quoc gia ha noi-2017

HỆ THỐNG CHÍNH TRỊ VIỆT NAM DH QG HN

bài báo khoa học (4)

MĐ16_MTT - THIET KE TRANG PHUC 2

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