By Gregory McMillan, Douglas Considine
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Extra resources for Principles of Corporate Finance
1. Use the discount factors shown in Appendix Table 1 at the end of the book to calculate the PV of $100 received in: a.
11 This might seem like a lot of calculations for the savings and loan companies. 718)r. 718—or e, as it is called—is simply the base for natural logarithms. 718)r by the end of the first year. 718)rt. Appendix Table 4 at the end of the book is a table of values of ert. Let us practice using it. 11) for one year (t ϭ 1). 116. 6 percent a year annually compounded. 11) for two years (t ϭ 2). 22. 246. 9 Individual borrowers gradually pay off their loans. We are assuming that the aggregate amount loaned by the bank to all its customers stays constant at $10 million.
A. Assume E. Coli is sure to pay the second $30,000 installment. Should you take its offer or start on the office building? Explain. b. Suppose you are not sure E. Coli will pay. You observe that other investors demand a 10 percent return on their loans to E. Coli. Assume that the other investors have correctly assessed the risks that E. Coli will not be able to pay. Should you accept E. Coli’s offer? com/bm7e 6. Explain why the discount rate equals the opportunity cost of capital. EXCEL 7. Norman Gerrymander has just received a $2 million bequest.
Principles of Corporate Finance by Gregory McMillan, Douglas Considine