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Ber [7]
3 years ago
12

A customer redeems 1,000 shares of ABC Fund on Wednesday, June 14th. Under the provisions of the Investment Company Act of 1940,

the customer must be paid the money no later than:
Business
1 answer:
Colt1911 [192]3 years ago
7 0

Answer:

Wednesday, June 21st

Explanation:

In this scenario, since the customer redeemed the shares on Wednesday, June 14th then he must be paid before Wednesday, June 21st. This is 7 days after the redemption. According to section 22 article (e) of the Investment Company Act of 1940, all companies are prevented from postponing the date of payment for more than seven days as stated below.

(e) No registered investment company shall suspend the right

of redemption, or postpone the date of payment or satisfaction upon

redemption of any redeemable security in accordance with its terms

for more than seven days after the tender of such security to the

company or its agent designated for that purpose for redemption

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A stock has an average expected return of 10.8 percent for the next year. The beta of the stock is 1.22. The T-Bill rate is 5% a
uranmaximum [27]

Answer: 4.7%

Explanation:

Expected return is calculated as:

= Risk free return + Beta ( Market risk premium)

10.8% = 5% + (1.22 × Market risk premium)

10.8% - 5% = 1.22market risk premium

5.8%/1.22 = market risk premium

Market risk premium = 0.058/1.22

Market risk premium = 0.047

Market risk premium = 4.7%

7 0
3 years ago
TIMED QUIZ PLS HELP!!! 10 POINTS
madam [21]

Answer:

$3,750

Explanation:

4 0
3 years ago
Item 6Item 6 Suppose that the firm's only variable input is labor. When 50 workers are used, the average product of labor is 50
Kipish [7]

Answer:

$1.07

Explanation:

The marginal cost measures the change in total cost of adding on more worker divided by the change in product for this additional worker (marginal product of labor). When adding one more worker, costs will increase by $80 (wage rate), while product will increase by 75. Therefore, the marginal cost is:

MC=\frac{80}{75}\\MC=\$1.07

The marginal cost is $1.07.

3 0
3 years ago
An engineer wishes to have $3 million by the time he retires in 35 years. Assuming 8% nominal interest, compounded continuously,
Genrish500 [490]

Answer:

annual sum must he set aside $16209.42

Explanation:

given data

engineer wishes = $3 million

retires time = 35 years

nominal interest = 8%

solution

we get here effective annual rate that is

interest rate  = e^{r} - 1  ...........1

interest rate  = e^{0.08} - 1

interest rate  = 0.08328 = 8.33%

and

now we get annual sum must he set aside that is

amount = $3 million × \frac{rate}{(1+rate)^{t}-1}

amount = $3000000 × \frac{0.0832}{(1+0.0832)^{35}-1}

amount = $16209.42

5 0
2 years ago
Local Co. has sales of $ 10.1 million and cost of sales of $ 5.5 million. Its​ selling, general and administrative expenses are
Firlakuza [10]

Answer:

1. 45.5%

2. 13.3%

3. 7.2%

Explanation:

The formulas and calculations are shown below:

1. Gross margin = (Sales - cost of sales) ÷ (sales) × 100

                          = ($10.1 million - $5.5 million) ÷ ($10.1 million) × 100

                          =  ($4.6 million) ÷ ($10.1 million) × 100

                          = 45.5%

Gross profit = Sales - cost of sales

2. Operating margin = (Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges) ÷ (sales) × 100

= ($4.6 million -  $460,000 or $0.46 million - $1.4 million - $1.4 million) ÷ ($10.1 million) × 100

= ($1.34 million) ÷ ($10.1 million) × 100

= 13.3%

Operating income = Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges

3. Net profit margin = (Operating income - taxes) ÷ (sales) × 100

= ($1.34 million - $0.6097 million) ÷ ($10.1 million) × 100

= ($0.7303 million) ÷ ($10.1 million) × 100

= 7.2%

The income tax expense =  Operating income × income tax rate

                                          = $1.34 million × 45.5%

                                           = $0.6097 million

6 0
2 years ago
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