ANAL 2023 EX0 8 a 11
DownloadTélécharger
Actions
Vote :
ScreenshotAperçu
Informations
Catégorie :Category: nCreator TI-Nspire
Auteur Author: MALEKATOR
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 3.45 Ko KB
Mis en ligne Uploaded: 16/12/2024 - 22:59:25
Uploadeur Uploader: MALEKATOR (Profil)
Téléchargements Downloads: 3
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4412235
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 3.45 Ko KB
Mis en ligne Uploaded: 16/12/2024 - 22:59:25
Uploadeur Uploader: MALEKATOR (Profil)
Téléchargements Downloads: 3
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4412235
Description
Fichier Nspire généré sur TI-Planet.org.
Compatible OS 3.0 et ultérieurs.
<<
EXO8: You are overseeing a portfolio with an expected retun of 10% and a standard deviation of 20%. The retun on T-bills is currently 3%. A client decides to invest a portion w of her total investment budget in your portfolio and the remainder in T-bits, aiming for an overall portfolio retum of 6.5%. Determine the standard deviation of the client's portfolio. ( Portfolio expected return : E(Rp)=w*E(Rr)+(1-w)*Rf with: w=proportion invested in the risky portfolio ; E(Rr)=expected return(10%); Rf= Return on T-Bills(3%); E(Rp)=Desired portfolio return(6.5%) (6.5%=w*10%+(1-w)*3%. <=> w=0.5% <=>50% Standard deviation formula : ÃP= w*sigma r with: ÃP= Portfolio Standard deviation ; w=0.5 ; Ãr=20% ÃP= 0.5*0.2=0.1 =10% EX09: The common stock of EDHEC Inc, has an expected retum of 14.4% The retum on the market is 10% and the risk-free rate of retum is 3.5%. What is the bets of this stock? (We check the capital assets pricing model (CAPM) with the formula: E(Ri)=Rf+Beta*(E(Rm)-Rf) We want Beta with : E(Ri)=14.4% (expected return); Rf=3.5%(risk free rate);E(Rm)=10%(exempted market return); Beta(stock beta) WE will use the CAPM formula: 14.4%=3.5%+Beta*(10%-3.5%)<=>Beta=1.58( (EX010: Assume EDHEC debt has market value of ¬110 million. Maturity of its bond is 8 years, with nominal and reimbursement value of ¬10,000, annual coupon EXO10:Assume EDHEC debt has market value of ¬110 million. Maturity of its bond is 8 years, with nominal and reimbursement value of ¬10,000, annual coupon of ¬1,000, and market price at ¬11,000. Compute the annual rate of return to investors in this bond. Use trials and errors testing first 9% then 8% and give an answer to 2 decimal places.( Bord Price Formula : P=11000(current market price); C=1000(annuel coupon); FV=10000(face value); N=8 (years to maturity); r=Ytm we are solving for For r=9% Formule general : C/(1+r)^1 + C/(1+r)^2 + &..+FV/(1+r)^8 <=> P9%= 1000/(1.09)^1+1000/(1.09)^2+&.+10000/(1.09)^8=10518.82 For r=8% IDEM P8%=11149.33 Ther : r= 8% +( (P-P8%) / (P9%-P8%) ) * (9%-8%) Remplace par les valeurs <=> r=8.23% - EXO11: A company plans to acquire a machine and to use it over the next 12 years. You are given the following infortiation:(- Initial payment: ¬50,000 to be paid in exactly 2 ycars( - Maintenance costs of ¬15,000 in exactly 7 years(- The machine will then be sold after 12 years of use for ¬30.000 What is the equivalent annual cost of a machine for the company if & uses an 8% annual discount rate? If you round your intermediate computations, do it to 2 decimal places. Formule general: EAC= (NPV of cost Revenues ) / (PV of annuity factor PVA) Step 1 : initial payment with t=2 Pv initial= -50000/(1+0.08)^2= -42866.94 Maintenance cost with t=7 Pv Maintenance = -15000/(1+0.08)^7= -8752.36 Resale Value t=12 Pv Resale= 30000/(1+0.08)^12= 11913.41 NPV= -42866.94-8752.36+11913.44= -39705.89 Step 2: PVA= 1-(1+r)^-n / r <=> 1-(1.08)^-12 / 0.08 = 7.54 EAC=NPV/PVA= -39705.89 / 7.54 = -5266.03 euros ( Made with nCreator - tiplanet.org
>>
Compatible OS 3.0 et ultérieurs.
<<
EXO8: You are overseeing a portfolio with an expected retun of 10% and a standard deviation of 20%. The retun on T-bills is currently 3%. A client decides to invest a portion w of her total investment budget in your portfolio and the remainder in T-bits, aiming for an overall portfolio retum of 6.5%. Determine the standard deviation of the client's portfolio. ( Portfolio expected return : E(Rp)=w*E(Rr)+(1-w)*Rf with: w=proportion invested in the risky portfolio ; E(Rr)=expected return(10%); Rf= Return on T-Bills(3%); E(Rp)=Desired portfolio return(6.5%) (6.5%=w*10%+(1-w)*3%. <=> w=0.5% <=>50% Standard deviation formula : ÃP= w*sigma r with: ÃP= Portfolio Standard deviation ; w=0.5 ; Ãr=20% ÃP= 0.5*0.2=0.1 =10% EX09: The common stock of EDHEC Inc, has an expected retum of 14.4% The retum on the market is 10% and the risk-free rate of retum is 3.5%. What is the bets of this stock? (We check the capital assets pricing model (CAPM) with the formula: E(Ri)=Rf+Beta*(E(Rm)-Rf) We want Beta with : E(Ri)=14.4% (expected return); Rf=3.5%(risk free rate);E(Rm)=10%(exempted market return); Beta(stock beta) WE will use the CAPM formula: 14.4%=3.5%+Beta*(10%-3.5%)<=>Beta=1.58( (EX010: Assume EDHEC debt has market value of ¬110 million. Maturity of its bond is 8 years, with nominal and reimbursement value of ¬10,000, annual coupon EXO10:Assume EDHEC debt has market value of ¬110 million. Maturity of its bond is 8 years, with nominal and reimbursement value of ¬10,000, annual coupon of ¬1,000, and market price at ¬11,000. Compute the annual rate of return to investors in this bond. Use trials and errors testing first 9% then 8% and give an answer to 2 decimal places.( Bord Price Formula : P=11000(current market price); C=1000(annuel coupon); FV=10000(face value); N=8 (years to maturity); r=Ytm we are solving for For r=9% Formule general : C/(1+r)^1 + C/(1+r)^2 + &..+FV/(1+r)^8 <=> P9%= 1000/(1.09)^1+1000/(1.09)^2+&.+10000/(1.09)^8=10518.82 For r=8% IDEM P8%=11149.33 Ther : r= 8% +( (P-P8%) / (P9%-P8%) ) * (9%-8%) Remplace par les valeurs <=> r=8.23% - EXO11: A company plans to acquire a machine and to use it over the next 12 years. You are given the following infortiation:(- Initial payment: ¬50,000 to be paid in exactly 2 ycars( - Maintenance costs of ¬15,000 in exactly 7 years(- The machine will then be sold after 12 years of use for ¬30.000 What is the equivalent annual cost of a machine for the company if & uses an 8% annual discount rate? If you round your intermediate computations, do it to 2 decimal places. Formule general: EAC= (NPV of cost Revenues ) / (PV of annuity factor PVA) Step 1 : initial payment with t=2 Pv initial= -50000/(1+0.08)^2= -42866.94 Maintenance cost with t=7 Pv Maintenance = -15000/(1+0.08)^7= -8752.36 Resale Value t=12 Pv Resale= 30000/(1+0.08)^12= 11913.41 NPV= -42866.94-8752.36+11913.44= -39705.89 Step 2: PVA= 1-(1+r)^-n / r <=> 1-(1.08)^-12 / 0.08 = 7.54 EAC=NPV/PVA= -39705.89 / 7.54 = -5266.03 euros ( Made with nCreator - tiplanet.org
>>
