[기출문제] 건국대 서울캠 재무관리 2021-1 중간 기출문제 (정답 포함)

1.  Suppose ten minutes ago you bought a bond with a par value of $1,000, a coupon rate of 5%, and 5 years of maturity. YTM was 5%. Suddenly if its YTM increases to 10% and no coupons are paid within the ten minutes, what is the rate of returns from the bond?

2.  The interest earned on both the initial principal and the interest recieved in the previous years is as follows:

 1)   dual interest.
 2)   free interest.
 3)   interest on interest.
 4)   simple interest.
 5)   compound interest.                                   
             

3. You bought an investment that will pay $8,000 per year in real dollars over the next three years. Each payment will be received at the end of the year and the first payment occurs one year from today. The nominal discount rate is 7.5% and the inflation rate is 2.9%. What is the present value of these payments?
(10점)
 1)   No answer
 2)   $22,004
 3)   $23,512
 4)   $24,562         

 4.  We are considering investing with the following cash flows. If the required return on this investment is 15.5%, should the investment be accepted based on the IRR method? Why or why not?

Year       CashFlow

0            $-152,800

1            $96,100

2            $102,300

3            $-4,900

(10점)
 1)   You cannot apply the IRR rule in this case.
 2)   No; The IRR is less than the required return.
 3)   Yes; The IRR exceeds the required return.
 4)   Yes; The IRR is less than the required return.
 5)   No; The IRR exceeds the required return.                            

5. Hynix paid an annual dividend of $1.45 per a share today. The company recently announced that future dividends will increase by 2.8% annually. If you need a 14% return, how much is the stock worth today?
(10점)
 1)   $13.31
 2)   $12.95
 3)   $13.68
 4)   No answer
 5)   $12.56
   .                                                                                  

6.  Your mother is giving you $10 at the end of each month for four years while you are in the university. How much is it worth at the day you enter the university with a 5.5% interest rate per year?
(10점)
 1)   $450.92
 2)   $420.12
 3)   $429.99
 4)   No answer
 5)   $460.89   
                                                           
7. Sujin invested $9,250 in an account paying the 6% of a simple interest. If interests were compounded at 6% annually, how much more would Sujin have earned in 7 years? What is the difference between simple and compound interests?
 1)   No answer
 2)   $833.33
 3)   $802.16
 4)   $741.41
 5)   $773.58

8. Which of the following defines a note? You need to find all of the right answers.
I. secured

II. unsecured

III. maturity less than 10 years

IV. maturity in excess of 10 years

 1)   III
 2)   I
 3)   IV
 4)   II                     

9.  The current inflation rate is 1%, and a real interest rate is 3%. What is the approximate number of nominal rate?
(10점)
 1)   1%
 2)   5%
 3)   4%
 4)   2%                

10.  You invested a new project which will pay $60 at the end of each year for two years. When the initial investment is $100, what range is IRR included in?

 1)   0~5%
 2)   5~10%
 3)   15~20%
 4)   10~15%

3.1%)

정답 : 

1번문제 답 -18.95%

2번문제 답 5) compound interest

3번문제 답 1) No answer

4번문제 답 1) You cannot apply the IRR rule in this case.

5번문제 답 1) $13.31

6번 문제 답 3) $429.99

7번문제 답 5) $773.58

8번문제 답 1) III (Maturity less than 10 years)

9번문제 답 3) 4%

10번 문제 답 4) 10~15% (약 13%)