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Business Math Homework 20
Tesslyn
decided to cancel her policy after 6
months.
Her annual premium was $660. How much is the short-rate premium? Short Rate Premium = Annual Premium x Short Rate Annual Premium: $660 Short Rate: 61% $660 x 61% $402.60 Tesslyn's insurance company has informed her that they are cancelling her $660 annual fire insurance policy after 6 months. How much is her refund? Refund = Annual Premium - Short Rate Premium Charge = $660 x 6/12 $660 x .50 = $330 Refund = $660 - $330 $330 A 250/500/50 optional policy indicates how much bodily per person coverage is being purchased? $250,000 Karin purchased optional coverage at 500/1,000/100. She is Class 10. What are her premiums? Bodily Injury Table: Class 10: 500/1,000 = 187 Damage to someone Elses Property Table: Class 10, 100M: 136 187 + 136 323 Given a symbol 6, Age 5, $300 deductible, determine the combined collision and comprehensive premium. Collision = $154 Comprehensive = $67 $154 + 67 $221 Karin purchased optional coverage at 500/1000/100. She is class 10. What are her premiums? 500/1000 = 187 100M = 136 136 + 187 323 If a fire insurance policy costs $1,000 per year, then what would be the cost of a three year policy? $1,000 x 3 $3,000 Jimmy Comfort was interested in pursuing a second career after retiring from the military. He signed up with Twitter to help network with individuals in his field. Within 1 week, he received an offer from a colleague to join her start-up business in Atlanta, Georgia. Along with his salary, he receives 100 shares of stock each month. Assume the stock is worth $4.50 a share. What is the value of the 100 shares he receives each month? 100 shares x $4.50 $450 Chapter Tests 01 02 03 04 05
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Homework Chapter 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Need A Tutor? Need Homework Help? Mary Blake is considering whether to buy stocks or bonds. She has a good understanding of the pros and cons of both. The stock she is looking at is trading at $59.25 with an annual dividend of $3.99. Meanwhile, the bond is trading at 96.25% with an annual interest rate of 11.5%. Calculate for Mary her yield for the stock and the bond. Stock = Annual Cash Dividend / Market Price Per Share $3.99 / 59.25 = 6.73% Bond = Annual Interest receipt per bond/ Market price per bond Annual Interest Rate = $1,000 x 11.5% = $115 Market Price = $1,000 x 96.25% = $962.50 $115 / $962.50 = .1195 x 100 11.95% DailyFinance.com reported one $40 share of Coca-Cola's stock bought in 1919, with dividends reinvested, would be worth $9.8 million today. If the price-earnings ratio was 28.42 at that time, what were the annual earnings per share? Annual Earnings Per Share Earnings Per Share = Last Price / Price-Earnings Ratio $40 / 28.42 $1.41 Ryan Neal bought 1,200 shares of Ford at $15.98 per share. Assume a commission of 2% of the purchase price. Ryan sells the stock for $22.25 with the same 2% commission rate. What is the gain or loss for Ryan? 1,200 x 15.98 = $19,176 19,176 x 1.02 = $19,559.52 1.02 - .02 - .02 = .98 1200 x 22.25 = $26,700 $26,700 x .98 = $27,234 $27,234 - $19,559.52 $7,674.48 Maytag Company earns $4.80 per share. Today the stock is trading at $59.25. The company pays an annual dividend of $1.40. Calculate the price-earnings ratio: Market Price Per Share / Earnings Per share 59.25 / 4.80= 12.34 Calculate the yield on the stock Annual dividends per share / market price per share 1.40 / 59.25 2.36% Ryan Neal bought 1,200 shares of Ford at $15.98 per share. Assume a commission of 2% of the purchase price. What is the total cost to Ryan? 1,200 x $15.98 = $19,176 $19,176 x 1.02 $19,559.52 Bonds: NJ 4.125% 35 Current Yield: 3.5% Volume: 5 Close: 96.875% Net Change: +1.5% Five bonds were purchased yesterday, and 5 bonds were purchased today. How much more did the 5 bonds cost today? Bond Yield = Total annual interest of bond / Total current cost of bond at closing Close : 96.875 x 10 = $968.75 Next Day: (96.875 + 1.50) x 10 = $986.75 968.75 x 5 = $4,843.75 983.75 x 5 = $4,918.75 $4,918.75 - $4,843.75 75 Lee Ray bought 130 shares of a mutual fund with a NAV of $13.10. This fund also has a load charge of 8.5% What is the offer price? Net Asset Value (NAV) = $13.10 Load Charge = 13.10 x .085 = 1.1135 $13.10 + $1.11 = 14.21 What did lee pay for his investment? Offer Price x Number of shares 130 x 14.21 $1,847.30 Ron and Madeleine Couple received their 2010 Form 1099-DIV (dividends received) in the amount of $1,585. Ron and Madeleine are in the 28% bracket. What would be their tax liability on the dividends received? $1,585 x .28 $443.80 Loretta Scholten buys nine bonds of Leo Co. 7 ¼ 16 at 103.375. The commission is $3.00 per bond. The current yield to the nearest tenth of a percent is: $72.50 / $1,033.75 7.0%. Jeff Ryan bought 200 shares of BUI for $19.50. Eight weeks later he sold the stock for $20.75. Assuming a 3% commission, his bottom line was a gain of: 200 × $19.50 = $3,900 × 1.03 = $4,017 cost basis; 200 × $20.75 = $4,150 × .97 = $4,025.50 $4,025.50 − $4,017 $8.50 |
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