Problem 1
Quiver Archery’s bond currently is selling for $1,005; its value one year ago was $990. The bond has a $1,000 maturity value and a coupon rate equal to 7 percent, and it matures in eight years. Interest is paid annually. Compute the bond’s yield to maturity today.
Problem 2
Kim wants to take a trip that costs $4,750, but currently she only has $2,260 saved. If she invests this money at 7 percent compounded annually, how long will it take for the investment to grow to $4,750?
Problem 3
Xtinct Artifacts has not paid a dividend during the past 10 years. However, at the end of this year, the company plans to pay a $1.50 dividend and a $2 dividend the following year (Year 2). Starting in three years, the dividend will begin to grow by 5 percent each year for as long as the firm is in business. If investors require an 11 percent rate of return to purchase Xtinct’s common stock, what should be
the market value of its stock today?
Problem 4
For the past 15 years, the P/E ratio of North/South Travel has been between 28 and 30. If North/South’s earnings per share equal $4, in what price range would you estimate its stock should be selling?
Problem 5
Discuss the various financial statements and how managers may use them in assessing company performance.
Problem 6
Write a short essay on the different types of financial markets and the impact of recent financial legislation on markets.
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