Tag Archives: 金融基础知识代写

金融基础知识 Fundamentals of Finance BMAN10552/BMAN10621A/BMAN23000

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这是一份manchester曼切斯特大学 BMAN10552/BMAN10621A作业代写的成功案例

金融基础知识 Fundamentals of Finance BMAN10552
问题 1.

Sure! Take the case of Blue Skies. Suppose that it has 2 million shares outstanding. It plans to pay a dividend of $\mathrm{DIV}_{1}=\$ 3$ a share. So the total dividend payment is 2 million $\times \$ 3=\$ 6$ million. Investors expect a steady dividend growth of 8 percent a year and require a return of 12 percent. So the total value of Blue Skies is
$$
\mathrm{PV}=\frac{\$ 6 \text { million }}{.12-.08}=\$ 150 \text { million }
$$

证明 .

Alternatively, we could say that the total value of the company is the number of shares times the value per share:
$$
\mathrm{PV}=2 \text { million } \times \$ 75=\$ 150 \text { million }
$$
Of course things are always harder in practice than in principle. Forecasting cash flows and settling on an appropriate discount rate require skill and judgment. As the nearby box shows, there can be plenty of room for disagreement.


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BMAN10552 COURSE NOTES ：

$$
P_{0}=\frac{\mathrm{DIV}{1}+P{1}}{1+r}=\frac{\$ 5+\$ 105}{1.10}=\$ 100
$$
Since dividends and share price grow at 5 percent,







中级宏观经济学|Intermediate Macroeconomics代写 5QQMB205代考

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这是一份KCL伦敦大学学院5QQMB205作业代写的成功案

中级宏观经济学|Intermediate Macroeconomics代写 5QQMB205代考
问题 1.

Definition. $G_{1} \wedge G_{2}$ is the simple game with $N=N_{1} \cup N_{2}$ and $S \in \mathscr{W}$ if and only if $S \cap N_{1} \in W_{1}$ and $S \cap N_{2} \in W_{2}$.

Definition. $G_{1} \vee G_{2}$ is the simple game with $N=N_{1} \cup N_{2}$ and $S \in \mathscr{W}$ if and only if $S \cap N_{1} \in \mathscr{W}{1}$ or $S \cap N{2} \in \mathscr{W}_{2}$.


证明 .

Thus to win in $G_{1} \wedge G_{2}$ a coalition must win in both $G_{1}$ and $G_{2}$, whereas to win in $G_{1} \vee G_{2}$ it must win either in $G_{1}$ or $G_{2}$.
Consider the following axioms for a power index $K$ :
Axiom 1. $K_{i}(G)=0$ if and only if $i$ is a dummy in $G$.

英国论文代写Viking Essay为您提供实分析作业代写Real anlysis代考服务

5QQMB205 COURSE NOTES ：

$$
c=\int \frac{u(x)}{u^{\prime}(x)}
$$
and call $c$ the tax credit. Also let
$$
\eta(t)=\frac{u_{t}^{\prime}(x(t))}{u_{t}(x(t))} x(t) .
$$
Then one can calculate
$$
x(t)=\frac{\eta(t)}{1+\eta(t)}[c+e(t)] .
$$




金融基础知识|Fundamentals of Finance代写 5QQMB201代考

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这是一份KCL伦敦大学学院 5QQMB201作业代写的成功案

金融基础知识|Fundamentals of Finance代写 5QQMB201代考
问题 1.

Step 1. Calculate the opportunity cost of capital.
$$
\begin{aligned}
r &=r_{D} D / V+r_{E} E / V \
&=.09(.3)+.15(.7)=.132, \text { or } 13.200
\end{aligned}
$$
Siep 2. Calculate the new costs of debt and equity. The cost of debt will be higher at $50 \%$ debt than $30 \%$. Say it is $r_{D}=.095$. The new cost of equity is:
$$
\begin{aligned}
r_{E} &=r+\left(r-r_{D}\right) D / E \
&=.132+(.132-.095) 50 / 50 \
&=.169, \text { or } 16.99
\end{aligned}
$$


证明 .

Siep 3. Recalculate WACC.
$$
\begin{aligned}
\text { WACC } &=r_{D}\left(1-T_{d}\right) D / V+r_{E} E / V \
&=.095(1-.35)(.5)+.169(.5)=.1154, \text { or about } 11.5 \%
\end{aligned}
$$

英国论文代写Viking Essay为您提供实分析作业代写Real anlysis代考服务

5QQMB201 COURSE NOTES ：

upside change – downside change
In the case of Google stock:
$$
p=\frac{.015-(-.25)}{.333-(-.25)}=.4543
$$
We know that if the stock price rises, the call option will be worth $\$ 143.33$; if it falls, the call will be worth nothing. Therefore, if investors are risk-neutral, the expected value of the call option is:
[Probability of rise $\times 143.33]+[(1-$ probability of rise $) \times 0]$
$$
\begin{aligned}
&=(.4543 \times 143.33)+(.5457 \times 0) \
&=\$ 65.11
\end{aligned}
$$
And the current value of the call is:
$$
\frac{\text { Expected future value }}{1+\text { interest rate }}=\frac{65.11}{1.015}=\$ 64.15
$$