Question

1a.An example of an ordinary annuity would be Dinner at McDonald's in which you pay for...

1a.An example of an ordinary annuity would be

Dinner at McDonald's in which you pay for your food before you receive it.

Your rent, which you pay on the first of the month.

Admission to a movie, where you pay before seeing the movie.

Your "A" grade which you receive after working hard all semester.

None of the above.

1b.The rate that banks are required to use in quoting rates to customers is (by order of Reg CC):

The Fisher Effect

The Effective Annual Rate

The Effective Annual Yield

The Annual Percentage Rate

None of the above

1c.Joella owns 100 shares in XYZ Company and it is time for the annual board meeting in New York City. Which of the following options might Joella want to exercise in this situation?

use her pre-emptive right to purchase more shares.

give her proxy away to a member of management.

insist on cumulative voting so that she has more power.

eliminate classes of stock so that everyone has equal voting power.

insist on straight voting so that the large stockholders hold the reins of power.

1d.If Sherman owns 300 shares in a company with cumulative voting and the most votes he can cast for himself in the next board election is 1200 votes, how many board positions are open?

One

Two

Three

Four

Not enough information to tell.

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Homework Answers

Answer #1

Answer 1a ) Your rent, which you pay on the first of the month

Explanation : Annuty are regular payment or installments at the frequency of regular period.

Answer 1b )The Annual Percentage Rate

Explanation : It is the rate qouted by banks to its customers.

Answer 1c ) insist on cumulative voting so that she has more power.

Explanation : Cumulative voting strengthen the abilitry of minority shareholders to elect a director.

Answe 1d) Four

Under cumulative voting the total votes are calculates by multiplying the number of share with the number of positions.

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