公司财务管理练习题.ppt

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1、Nov.29,2011ReviewthetimevalueofmoneyQuestion1ThefollowingcashflowsstreamsneedtobeanalyzedEndofyear12345W$100$200$200$300$300X600----Y----1200Z200-500-300a.Calculatethefuturevalueofeachstreamattheendofyear5withacompoundannualinterestrateof10%(equation4.3onP89)b.Computethepresentvalu

2、eofeachstreamifthediscountrateis14%(equation4.4onthesamepage)Question2MuffinMegabucksisconsideringtwodifferentsavingsplans.Thefirstplanwouldhaveherdeposit$500everysixmonths,andshewouldreceiveinterestata7%percentannualrate,compoundedsemiannually.Underthesecondplanshewoulddeposit$100

3、0everyyearwitharateofinterestof7.5%percent,compoundedannually.TheinitialdepositwithPlan1wouldbemadesixmonthsfromnowand,withplan2,oneyearhence.a.Whatisthefuturevalueofthefirstplanattheendof10years?b.Whatisthefuturevalueofthesecondplanattheendof10years?c.WhatplanshouldMuffinuse,assum

4、ingthatheronlyconcerniswiththevalueofhersavingsattheendof10years?d.Wouldyouranswerchangeiftherateofinterestonthesecondplanwere7percent?Question3Onacontractyouhaveachoiceofreceiving$25000sixyearsfromnowor$500000twelveyearsfromnow.atwhichcompoundannualinterestrateshouldyourbeindiffer

5、entbetweenthetwocontracts?Question4EmersonCammackwishestopurchaseanannuitycontractthatwillpayhim$7000ayearfortherestofhislife.ThePhilolifeinsuranceCompanyfiguresthathislifeexpectancyis20years,basedonitsactuarytables.Thecompanyimputesacompoundannualinterestrateat6percentinitsannuity

6、contracts.a.HowmuchwillCammackhavetopayfortheannuity?b.Howmuchwouldhehavetopayifinterest?Question5Youborrow$10000at14%compoundannualinterestforfouryears.Theloanisrepayableinfourequalannualinstallmentspayableattheendofeachyear.a.Whatistheannualpaymentthatwillcompletelyamortizetheloa

7、noverfouryears?b.Ofeachequalpayment,whatistheamountofinterest?Theamountofloanprincipal?(Hint:inearlyyears,thepaymentiscomposedlargelyofinterest,whereasattheenditismainlyprincipal)Question6YourlateUncleVern’sentitlesyoutoreceive$1000attheendofeveryotheryearforthenexttwodecades.Thefi

8、rstcashflowistwoyearsfromn