Chapter 11 3 the company paid dividends of $2.75 per share

Find the requested value using the given stock table.

52 –Wk Tick Vol. Week’s Div YTD

High Low Name Sym. 100s Yld. P/E Last Chg. Amt % CHG

38.42 12.54 CommercialAir CMA 17718 3.1 21 31.68 +1.28 2.04 67.1

9.77 1.06 CommSource CSC 5263 .8 12 4.81 +0.23 .68 148.2

33.57 15.38 CompuStrateg CPS 6581 1.6 35 17.49 –0.05 .44 4.4

83.23 39.76 ComputerSolns CSL 23006 .7 24 80.11 +1.42 1.31 35.7

51)

Change from previous week for CommSource (CSC)

51)

A)

$23

B)

$2.30

C)

$4.81

D)

$0.23

Solve the problem.

52)

If Bob deposits $5000 at the end of each year for 12 years in an account paying 8% interest

compounded annually, find the amount he will have on deposit.

52)

A)

$94,885.65

B)

$89,885.63

C)

$107,476.48

D)

$83,227.44

Solve the problem.

53)

Claire Hummell bought 4 Hecht Company (HCO) bonds maturing in 2032. According to the bond

table, the last price is listed as 98.375. With a sales commission of $1 per bond, find the total

purchase price.

53)

A)

$3016.25

B)

$3935.00

C)

$3931.00

D)

$3939.00

Find the requested value using the given stock table.

52 –Wk Tick Vol. Week’s Div YTD

High Low Name Sym. 100s Yld. P/E Last Chg. Amt % CHG

38.42 12.54 CommercialAir CMA 17718 3.1 21 31.68 +1.28 2.04 67.1

9.77 1.06 CommSource CSC 5263 .8 12 4.81 +0.23 .68 148.2

33.57 15.38 CompuStrateg CPS 6581 1.6 35 17.49 –0.05 .44 4.4

83.23 39.76 ComputerSolns CSL 23006 .7 24 80.11 +1.42 1.31 35.7

54)

Low for the year for ComputerSolns (CSL)

54)

A)

$1.42

B)

$39.76

C)

$80.11

D)

$83.23

Find the current yield. Round to the nearest tenth of a percent.

55)

You invested $7625 in 125 shares of stock. During the following year, the company paid dividends

of $2.75 per share.

55)

A)

2.2%

B)

0.5%

C)

22.2%

D)

4.5%

Find the requested value using the given stock table.

52 –Wk Tick Vol. Week’s Div YTD

High Low Name Sym. 100s Yld. P/E Last Chg. Amt % CHG

38.42 12.54 CommercialAir CMA 17718 3.1 21 31.68 +1.28 2.04 67.1

9.77 1.06 CommSource CSC 5263 .8 12 4.81 +0.23 .68 148.2

33.57 15.38 CompuStrateg CPS 6581 1.6 35 17.49 –0.05 .44 4.4

83.23 39.76 ComputerSolns CSL 23006 .7 24 80.11 +1.42 1.31 35.7

56)

Closing price for CommercialAir (CMA)

56)

A)

$12.54

B)

$1.28

C)

$31.68

D)

$38.42

Solve the problem. Refer to the table if necessary.

57)

Greg plans to contribute $700 per year to a retirement plan and is debating the use of a certificate of

deposit that pays 2% per year versus a stock fund that he believes will yield 6% per year. Find the

future value after 15 years of the CD and the stock fund.

57)

A)

CD: $12,105.39

Stock fund: $19,006.48

B)

CD: $11,677.50

Stock fund: $15,104.99

C)

CD: $11,181.76

Stock fund: $16,293.18

D)

CD: $12,105.39

Stock fund: $16,293.18

Find the amount of the annuity due rounded to the nearest cent.

58)

Amount of Each Deposit Deposited Rate Time (Years)

$6300 quarterly 8% 5

58)

A)

$137,595.52

B)

$146,773.43

C)

$156,134.92

D)

$39,916.35

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest

cent.

59)

$3100, money earns 8% compounded semiannually, 5 years

59)

A)

$572.35

B)

$258.20

C)

$528.43

D)

$292.92

Solve the problem. Refer to the table if necessary.

60)

Fred Smith bought 114 shares of Acme Steel at $38.25 per share and 414 shares of Kafka Enterprises

at $74 per share. Find the total amount that he paid, ignoring broker’s commissions.

60)

A)

$35,079.30

B)

$34,748.10

C)

$34,830.90

D)

$34,996.50

Find the PE ratio. Round to the nearest whole number.

61)

Stock: Giant

Current Price per Share: $33.11

Annual Net Earnings per Share: $1.45

61)

A)

24

B)

30

C)

23

D)

22

Find the amount of the ordinary annuity rounded to the nearest cent.

62)

Amount of Each Deposit Deposited Rate Time (Years)

$9100 semiannually 8% 9

62)

A)

$215,647.36

B)

$210,543.31

C)

$233,373.23

D)

$460,873.26

Find the cost for the stock purchase. Ignore any broker’s fee and assume that the purchase was at the close price for the

day. Then find the annual dividend that would have been paid for the year on that number of shares.

63)

864 shares of Meredith (MDP)

52 –Week Name Tick Vol Yld P/E Week’s Div

High Low Sym 100s Last Chg Amt

36.5 27 Meredith MDP 634 1.0 25 33.25 –0.5 .44

63)

A)

Cost $28,728.00; dividend $380.16

B)

Cost $29,592.00; dividend $380.16

C)

Cost $29,592.00; dividend $864.00

D)

Cost $28,728.00; dividend $864.00

Solve the problem.

64)

Joe Simpson bought 28 Woodward Corp. (WDW) bonds maturing 2010. According to a bond table,

the last price is 87.250 and the coupon rate is 10.250. Assuming a sales commission of $1 per bond,

find the effective interest rate using total cost including commissions.

64)

A)

11.6%

B)

7.1%

C)

11.7%

D)

8.4%

Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.

COMPANY (TICKER) COUPON MATURITY

LAST

PRICE

LAST

YIELD

EST $ VOL

(000′s)

Solar Energy (SNG) 4.800 Dec 15, 2018 104.894 3.438 30,590

Solar Energy (SNG) 5.750 Jun 15, 2022 106.626 4.550 30,045

Solar Power (SPR) 4.625 Dec 15, 2022 101.951 5.050 30,985

65)

Date when bonds must be paid off by Solar Energy

65)

A)

June 15, 2018

B)

December 15, 2018

C)

June 15, 2022

D)

December 15, 2022

Find the cost, including a sales charge of $1 per bond, for the transaction.

66)

Bond: FPC

Last Price: 82.125

Number Purchased: 46

66)

A)

$82,125.00

B)

$45,954.00

C)

$37,777.50

D)

$37,823.50

Stock prices on consecutive days for a stock are shown. Find the increase (decrease) in the price of each stock as a number

and the percent increase (decrease) rounded to the nearest tenth of a percent.

67)

36.41, 37.26

67)

A)

-0.85; 2.3%

B)

0.85; (2.3%)

C)

-0.85; (2.3%)

D)

0.85; 2.3%

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest

cent.

68)

$7300, money earns 12% compounded monthly, 2 years

68)

A)

$3631.82

B)

$270.61

C)

$3443.41

D)

$575.61

Solve the problem.

69)

Sandra deposits $3000 at the beginning of each semiannual period for 15 years at 8% interest

compounded semiannually. Find the amount she will have on deposit.

69)

A)

$155,898.86

B)

$174,985.02

C)

$165,254.81

D)

$87,972.85

Find the cost for the stock purchase. Ignore any broker’s fee and assume that the purchase was at the close price for the

day. Then find the annual dividend that would have been paid for the year on that number of shares.

70)

421 shares of Coleman (CLN)

52 –Wk Name Tick Vol Yld P/E Week’s Div

High Low Sym 100s Last Chg Amt

39.5 31 Coleman CLN 265 . . . 25 38.5 +0.5 . . .

70)

A)

Cost $16,208.50; dividend $0

B)

Cost $16,208.50; dividend $210.50

C)

Cost $15,998.00; dividend $210.50

D)

Cost $15,998.00; dividend $0

Find the present value of the annuity. Round to the nearest cent.

71)

Payments of $56 made quarterly for 5 years at 8% compounded quarterly

71)

A)

$454.21

B)

$915.68

C)

$223.59

D)

$877.99

72)

Payments of $9000 made annually for 10 years at 10% compounded annually

72)

A)

$56,196.00

B)

$54,900.00

C)

$55,301.13

D)

$60,750.00

Stock prices on consecutive days for a stock are shown. Find the increase (decrease) in the price of each stock as a number

and the percent increase (decrease) rounded to the nearest tenth of a percent.

73)

42.03, 41.34

73)

A)

0.69; 1.6%

B)

-0.69; (1.6%)

C)

0.69; (1.6%)

D)

-0.69; 1.6%

Answer Key

Testname: C11

Answer Key

Testname: C11