Bài 13 Cty A sẽ nhận được 2.000, 000 USD tiền hàng XK 3 tháng tới. Hôm nay họ bản số ngoại tệ trên cho ngân hàng theo các hợp đồng: Bản 1,000,000 USD để thu GBP kỳ hạn 3 tháng Bán 800,000 USD để mua EUR kỳ hạn 3 tháng Bản 200,000 USD để mua HKD kỳ hạn 3 tháng theo hợp đồng quyền chọn. Phí bán USD là 0.03HKD/USD. Hãy xác định số GBP, EUR, HKD sẽ nhận được khi HĐ đáo hạn. Biết tỷ giá giao ngay hôm nay là: GBP / U * S * D = 1.6710 - 50 ; USD / H * K * D = 7.7470 - 80 và tỷ giá giao ngay lúc hợp đồng đáo hạn là 7.7330 – 70 EUR / U * S * D = 1.3210 - 60 Lãi suất được ngân hàng công bố / năm: GBP: 3-3.5\% EUR: 3.5 – 4%; USD: 4 -5%; HKD: 5-6%

Suppose that xtel currently is selling at $40 per share. you buy 500 shares using $15,000 of your own money, borrowing the remainder of the purchase price from your broker. the rate on the margin loan is 8%. a. what is the percentage increase in the net worth of your brokerage account if the price of xtel immediately changes to (a) $44; (b) $40; (c) $36? (leave no cells blank - be certain to enter "0" wherever required. negative values should be indicated by a minus sign. round your answers to 2 decimal places.) b. if the maintenance margin is 25%, how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.) c. how would your answer to requirement 2 would change if you had financed the initial purchase with only $10,000 of your own money? (round your answer to 2 decimal places.) d. what is the rate of return on your margined position (assuming again that you invest $15,000 of your own money) if xtel is selling after one year at (a) $44; (b) $40; (c) $36? (negative values should be indicated by a minus sign. round your answers to 2 decimal places.) e. continue to assume that a year has passed. how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.)

Kumar consulting operates several stock investment portfolios that are used by firms for investment of pension plan assets. last year, one portfolio had a realized return of 12.6 percent and a beta coefficient of 1.15. the average t-bond rate was 7 percent and the realized rate of return on the s& p 500 was 12 percent. what was the portfolio's alpha?

Carlton industries is considering a new project that they plan to price at $74.00 per unit. the variable costs are estimated at $39.22 per unit and total fixed costs are estimated at $12,085. the initial investment required is $8,000 and the project has an estimated life of 4 years. the firm requires a return of 8 percent. ignore the effect of taxes. what is the degree of operating leverage at the financial break-even level of output?