FIN 300 Study Guide - Midterm Guide: Accounts Payable, Income Statement, Common Stock

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21 Apr 2012
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Ryerson University
CFIN300
Midterm Exam
Fall 2007
There are 2.0 hours in this exam.
Version A
Student Name ____________________________
(Please Print)
Student Number _________________________________
Notes:
1. This is a closed book exam. You may only have pens, pencils and a calculator at
your desk.
2. A formula sheet is attached to the end of the exam. You may detach the formula
sheet from the exam.
Please fill out the scanner sheet as you go along in the exam. You will not be given extra time at
the end of the exam to fill it out.
3. Select the best possible answer for each multiple-choice question
4. Each of the 30 MC questions is worth 1 mark
Marks: Available
Total 30 _________
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CFIN300 Midterm Exam Fall 2007
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CFIN300 Midterm Exam Fall 2007
2. Poor Dog, Inc. borrowed $135,000 from the bank today. They must repay this money over the
next six years by making monthly payments of $2,215.10. What is the interest rate on the loan?
Express your answer with annual compounding.
A) 5.98%
B) 6.63%
C) 4.71%
D) 5.65%
E) 5.80%
3. How much would you pay for a security that pays you $500 every 4 months for the next
10 years if you require a return of 8% per year compounded monthly?
A) $11,228.48
B) $15,000.00
C) $10,260.00
D) $13,724.90
E) $10,200.23
4. You can earn 5% per year compounded annually for the next 4 years, followed by 8% per
year compounded quarterly for 5 years. What is the average annual compounded rate of
return over the 9 year period? Express your answer with monthly compounding.
A)
B) 6.82%
C) 6.97%
D) 6.43%
E) 6.59%
5. You have just purchased a house for $540,000 with a $200,000 down payment. You are
going to get a mortgage at the TF bank for the balance. TF is charging a rate of 5.8% per
year compounded semi-annually on 5 year term mortgages. You want to make weekly
payments amortized over 20 years. What is your weekly payment?
A) $877.60
B) $549.01
C) $545.47
D)
E) $871.92
6. Master Meter is planning on constructing a new $20 million facility. The company plans
to pay 20% of the cost in cash and finance the balance. How much will each monthly loan
payment be if they can borrow the necessary funds for 30 years at 9% per year
compounded semi-annually?
A) $128,740
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