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FIN2601-25-S1
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You have just been offered a R1 000 par value bond for R958,25. The coupon rate is 8%, payable annually, and the interest rate on new issues of the same degree of risk is 9%. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. Can you determine how many interest payments remain?
Straight Lane Transport, a trucking and logistics company, has two bond issues outstanding that both sell for R1 140 each. The first issue has a coupon rate of 7,20% and 15 years to maturity. The second issue has an identical yield to maturity as the first bond, but only 10 years until maturity. Both issues pay interest annually. What is the annual interest payment on the second issue?
The real rate of interest is currently 3%. The inflation expectation and risk premiums are given below:
Security
|
Inflation premium
|
Risk premium
|
K
|
6%
|
3%
|
What is the risk-free rate?
The market price of a bond is R1 436,82, it has 12 years to maturity, a R1 000 par value, and pays an annual coupon of R120 in semi-annual instalments. What is the yield to maturity?
What is the market risk premium, if the risk-free rate is 9% and the expected market return is given as follows:
Conditional state of the economy
|
Probability
|
Return
|
Optimistic
|
45%
|
25%
|
Normal
|
50%
|
15%
|
Pessimistic
|
5%
|
15%
|
An investment of R1 500 000, made two years ago, has increased in value to R1 700 000, and has delivered R40 000 worth of dividends over the two years. What is the return on the investment?
Tom Noel holds the following portfolio:
Share
|
Investment
|
Beta
|
Class A share
|
R35 000
|
0,95
|
Class B share
|
R65 000
|
0,80
|
Class C share
|
R50 000
|
1,00
|
Class D share
|
R200 000
|
1,20
|
What is the portfolio beta?
Matthias is a portfolio manager of Francisco Securities portfolio, a R3 million hedge fund that holds the aforementioned securities:
Securities
|
Amount
|
Beta
|
F
|
R1 075 000
|
1,20
|
T
|
R675 000
|
0,50
|
G
|
R750 000
|
1,40
|
K
|
R500 000
|
0,75
|
The required rate of return on the market is 11% and the risk-free rate is 5%. What rate of return should investors expect (and require) on this fund?
You are considering investing in two securities, Omicron and Delta, and have the following information:
Security
|
Probability
|
Possible return
|
Omicron
|
0,4
0,3
0,3
|
16%
10%
2%
|
Delta
|
0,4
0,3
0,3
|
20%
12%
3%
|
You are required to calculate the expected return of a portfolio consisting of 40% Omicron and 60% Delta securities.
Tiny Legend Learning Academy believes the probability distribution, shown below, holds true for its shares.
State of the economy
|
Probability of state occurring
|
Shares’ expected return
|
Strong growth
|
0,25
|
20%
|
Moderate growth
|
0,50
|
12%
|
Low growth
|
0,25
|
8%
|
What is the coefficient of variation on the corporation shares?