Question 1

Given the following bond quotation, find the current percent yield. $\begin{array}{llcc}
\hline\
\text { Altria GP}&\text { MO.HC }& 9.7000 \% &\text { NOV } 2018& \text { Baal/BBB/BBB+ } &134.029 & 128.310&128 .310\
\hline 
\end{array}$

Accepted Answer

The answer of Given the following bond quotation, find the...

Question 2

On June 1, Dave Byers bought 10 Continental Technology bonds with a coupon rate of 9% interest paid on May 1 and November 1. The purchase price was 92.750 and the commission was $5 per bond. Dave sold the bonds on October 1 for 94.50. What was his total gain on this investment?

Accepted Answer

The answer of On June 1, Dave Byers bought 10...

Question 3

A mutual fund has an offer price of $10.34 per share and a net asset value of $9.91. What is the sales charge percent? (Round to nearest tenth)

Accepted Answer

The answer of A mutual fund has an offer price...

Question 4

You sell 825 shares of Medic Corporation common shares for $38.15. Your stockbroker charges 2.5% commission on round lots and 3.5% on odd lots. What are the proceeds on this sale?

Accepted Answer

The answer of You sell 825 shares of Medic Corporation...

Question 5

Donna Zack invested $5,575 in a mutual fund with an offer price of $20.39 and a net asset value of $10.15. How many shares did Donna purchase? (Round to thousandths)

Accepted Answer

The answer of Donna Zack invested $5,575 in a mutual...

Question 6

Carlos Spencio purchased 3,000 shares of Carlise Mutual Fund for an offer price of $22.86 per share. He later sold the shares at a net value of $22.98 per share. During the time Carlos owned the shares, Carlise paid dividends of $.38 and $.42 per share. What was Carlos' gain on this investment?

Accepted Answer

The answer of Carlos Spencio purchased 3,000 shares of Carlise...

Question 7

Given the following mutual fund quotation, find the year-to-date percent return on investment. $\begin{array}{|llcc|}
\hline
\text { Fidelity Invest } \quad \text { DivInt1 } \quad \text { FDIVX } \quad 25.61 \quad+0.04 \quad-8.5 \quad-11.1\
\hline 
\end{array}$

Accepted Answer

The answer of Given the following mutual fund quotation, find...

Question 8

Ricky invested a lump sum of $25,450 in a mutual fund with an offer price of $25.65. How many shares did he purchase? (Round to the nearest thousandth)

Accepted Answer

The answer of Ricky invested a lump sum of $25,450...

Question 9

Edna Russett purchased an Apex Industries bond currently selling at a premium of 118.50. The coupon rate was 8.125%. What was the current yield? (Round to the nearest tenth of a percent)

Accepted Answer

The answer of Edna Russett purchased an Apex Industries bond...

Question 10

Jorge Rodriguez wants to invest money in the DJ Securities Fund. It has an offer price of $17.98 per share and a net asset value of $17.12.
A)What is the amount of the sales charge per share?
B)What is the sales charge percent? (Round to the nearest tenth of a percent)

Accepted Answer

The answer of Jorge Rodriguez wants to invest money in...

Question 11

On May 1, James Kirby purchased 10 Oceanic Corporation bonds with a coupon rate of 9% and a current market price of 106.375. The commission charge is $5.00 per bond. The bond pays interest on January 1 and July 1. What was the total purchase price?

Accepted Answer

The answer of On May 1, James Kirby purchased 10...

Question 12

Suppose you own a mutual fund which has 18,000,000 shares outstanding. If its total assets are $46,000,000 and its liabilities are $12,000,000, find the net asset value of the fund. (Round to the nearest cent)

Accepted Answer

The answer of Suppose you own a mutual fund which...

Question 13

Steven Fork purchased 375 shares of Grant Corporation common stock at $19.75 per share. Three months later he sold the shares at $28.80. His stockbroker charges 3% commission on round lots and 4% on odd lots. What was the amount of gain on this transaction?

Accepted Answer

The answer of Steven Fork purchased 375 shares of Grant...

Question 14

You purchase 550 shares of Locke International common stock at $28.50 per share. Your stockbroker charges 3% commission on round lots and 3.5% on odd lots. What is the broker's fee?

Accepted Answer

The answer of You purchase 550 shares of Locke International...

Question 15

Suppose you own a mutual fund which has 12,000,000 shares outstanding. If its total assets are $24,000,000 and its liabilities are $8,000,000, find the net asset value of the fund. (Round your answer to the nearest cent if necessary)

Accepted Answer

The answer of Suppose you own a mutual fund which...

Question 16

Allen bought 150 shares of stock at $31.25 per share. Several months later he sold the stock at $25 per share. His broker charges 3% commission for round lots and 4% for odd lots. Calculate the gain or loss on the transaction. (If loss, enclose in parenthesis)

Accepted Answer

The answer of Allen bought 150 shares of stock at...

Question 17

Gerald Kiraly sold 8 Romond Corporation bonds with a coupon rate of 8.375% and a current market price of 95.25. The commission charge is $10 per bond. The date of the transaction is 72 days since the last interest payment. What were the proceeds of the sale?

Accepted Answer

The answer of Gerald Kiraly sold 8 Romond Corporation bonds...

Question 18

You purchase 30 bonds with a coupon rate of 8.875% and a current market price of 100. The commission charge is $5.00 per bond. The date of the transaction is April 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?

Accepted Answer

The answer of You purchase 30 bonds with a coupon...

Question 19

Find the current yield of a bond whose coupon rate is listed as 7.375% and currently selling at a discount of 99.875. (Round to the nearest tenth percent)

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The answer of Find the current yield of a bond...

Question 20

The First United mutual fund has total assets of $45,500,000 and liabilities of $1,600,000. There are 14,200,000 shares outstanding. What is the net asset value of the fund? (Round to the nearest cent)

Accepted Answer

The answer of The First United mutual fund has total...

Quiz 20: Investments

Given the following bond quotation, find the current percent yield. $\begin{array}{llcc}\hline\\\text { Altria GP}&\text { MO.HC }& 9.7000 \% &\text { NOV } 2018& \text { Baal/BBB/BBB+ } &134.029 & 128.310&128 .310\\\hline \end{array}$