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C3753FP Financial Management 2 (Year Module 2026) [FM] [F]

C3753FP Financial Management 2 (Year Module 2026) [FM] [F]

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You wish to purchase a used ultra-sports car on hire purchase. The price is N$120 000. Vekfin, a vehicle finance company, will provide finance over five years at a nominal rate of 12% per annum on 80% of the price. Instalments are payable monthly in advance. The monthly instalment is:

You have won a lottery prize. You have a choice of receiving a lump sum of N$1 million today, or receiving five equal payments of N$250 000 per annum, with the first payment being received today. Your opportunity cost of capital (required rate of return) is 12% per annum. By choosing to receive the five equal payments as opposed to the lump sum you will be:

Worse off by N$9 337

❌

No better off than choosing the N$1 million today.

❌

Better off by N$9 337

✅

Better off by N$98 806

❌

Worse off by N$98 806

❌

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You are presented with a proposal to invest an amount of N$100 000 with a promised effective rate of return of 12.246% per annum. You expect to receive a payment at the end of the investment period amounting to N$200 000. The period of the investment is:

SA Fine Tuning has just paid a dividend of N$1. 20 per share. The required rate of return on equity is 22%. The future dividends are expected to be as follows, with the growth rate for year 3 being in perpetuity thereafter:

Year	0	1	2	3
DPS (N$)	1.20	1.44	1.73	1.91
Growth Rate		20%	20%	10%

The value of an ordinary share today is:

None of these

N$12.00

N$13.04

N$10.00

N$11.11

Mrs Mabuza plans to retire in 10 years times. She estimates that in order to have a certain pension at the end of each month for 20 years after retirement, she will need to have an investment of N$2 million on the day she retires. If she expects to earn a rate of return of 12% per annum (nominal) on her pension investment, what is the amount that she expects to draw each month for the 20 years during her retirement?

Esplanade Ltd has non-cumulative preference shares with a par value of N$2.00 and a dividend rate of 10%. The markets required rate of return on the preference share is 12%. The preference dividend has been suspended for the past two years and it is expected that dividend payments will resume two years from today. The value of an Esplanade preference share is:

N$1.49

N$1.67

N$1.33

N$2.40

N$1.98

Elphin Company reflects the following dividend history:

Year	2025	2024	2023	2022	2021	2020
Dividend per share (cents)	80.00	69.2	67.4	62.8	56.2	48.0

The five-year compound average growth rate in dividends to 2025 was (to two decimal places):

10.76%

None of these

10.88%

9.23%

8.89%

Big Bank Ltd quotes you a deposit rate of 12.5% per annum, interest compounded semi-annually. The effective annual rate is:

Band Ltd issued debentures with a face value of N$1 000, which mature in exactly five years from today’s date. The latest interest payment has just been received. The interest is payable at 10% per annum on the face value of the debentures, on a quarterly basis. The market yield for the debentures is quoted as 12% per annum. The value of a Band Ltd debenture is:

N$1 000

N$926

N$993

N$939

N$1 076

Which of the following is a likely consequence of unethical financial decision-making within an organisation?