Fin300 Midterm
Ryerson University
CFIN300
Midterm Exam
Fall 2007
There are 2.0 hours in this exam.
Version A
Student Name ____________________________
(Please Print)
Student Number _________________________________
Notes:
1. This is a closed book exam. You may only have pens, pencils and a calculator at your desk.
2. A formula sheet is attached to the end of the exam. You may detach the formula sheet from the exam.
Please fill out the scanner sheet as you go along in the exam. You will not be given extra time at the end of the exam to fill it out.
3. Select the best possible answer for each multiple-choice question
4. Each of the 30 MC questions is worth 1 mark
Marks: Available
Total 30 _________
There are 14 pages in this exam.
|2. |Poor Dog, Inc. borrowed $135,000 from the bank today. They must repay this money over the next six years by making monthly |
| |payments of $2,215.10. What is the interest rate on the loan? Express your answer with annual compounding. |
|A) |5.98% |
|B) |6.63% |
|C) |4.71% |
|D) |5.65% |
|E) |5.80% |
|3. |How much would you pay for a security that pays you $500 every 4 months for the next 10 years if you require a return of 8% per |
| |year compounded monthly?
CFIN300
Midterm Exam
Fall 2007
There are 2.0 hours in this exam.
Version A
Student Name ____________________________
(Please Print)
Student Number _________________________________
Notes:
1. This is a closed book exam. You may only have pens, pencils and a calculator at your desk.
2. A formula sheet is attached to the end of the exam. You may detach the formula sheet from the exam.
Please fill out the scanner sheet as you go along in the exam. You will not be given extra time at the end of the exam to fill it out.
3. Select the best possible answer for each multiple-choice question
4. Each of the 30 MC questions is worth 1 mark
Marks: Available
Total 30 _________
There are 14 pages in this exam.
|2. |Poor Dog, Inc. borrowed $135,000 from the bank today. They must repay this money over the next six years by making monthly |
| |payments of $2,215.10. What is the interest rate on the loan? Express your answer with annual compounding. |
|A) |5.98% |
|B) |6.63% |
|C) |4.71% |
|D) |5.65% |
|E) |5.80% |
|3. |How much would you pay for a security that pays you $500 every 4 months for the next 10 years if you require a return of 8% per |
| |year compounded monthly?