Fin 301 Midterm 091015 A - NAME: _ SEMINAR SECTION (PLEASE...

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NAME: _______________________________________________ SEMINAR SECTION (PLEASE CIRCLE THE ONE YOU USUALLY ATTEND ): E1 Monday 2:00 PM E2 Wednesday 2:00 PM E4 Friday 2:00 PM E3 Wednesday 4:00 PM DO NOT TURN THIS PAGE UNTIL THE INSTRUCTION TO BEGIN IS GIVEN. DO NOT SEPARATE THE PAGES OF THIS EXAMINATION. BE SURE TO PUT YOUR NAME AND STUDENT ID NUMBER ON THE TOP OF THE NEXT PAGE OF THIS EXAMINATION. REMEMBER TO SHOW ALL WORK. PLEASE FOLLOW ALL DIRECTIONS. The next page contains general instructions. There are instructions accompanying the individual questions. No questions are allowed during the exam. 1. If you finish before 4:25 PM, you may hand in your examination, and leave. 2. If you do not finish before 4:25 PM a. You should stay seated until, at 4:50 PM , the announcement is made for all students to put their pens down and stop. b. At this point everyone will stop, close their exams, and pass their exams to their left or right as per the instructions of the exam room proctors. GOOD LUCK! A PPLE iPhone Edition
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Name: ________________________________ Student ID Number: ________________________ Finance 301 Midterm Exam Version A Fall 2009 Professor András Marosi October 15, 2009 70 points This exam is composed of 8 multiple choice questions and 4 multi-part word problems. Some of the sub-questions rely on information calculated in other parts of the question. Carry through errors will not be penalized. You have access to a scientific or financial calculator and you may have one 8½×11 inch “cheat sheet” with material on both sides. This sheet must be in human handwriting and may not be mechanically altered (i.e. reduced by a photocopier). Show all work. Credit will not be given for answers without supporting information. Please limit the amount of extraneous information in your answers since it makes it difficult to ascertain your understanding. Use the backs of the pages for scratch. Do not write answers outside of the allotted space (i.e., I do not read the backs of exams ). Read through the exam before starting. Good luck! Part 1 Multiple Choice __________ ( 16 ) Part 2 Word Problems Question 1: __________ ( 12 ) Question 2: __________ ( 12 ) Question 3: __________ ( 14 ) Question 4: __________ ( 16 ) Total: __________ ( 70 ) 2
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Part 1 Multiple Choice: Please write the letter of the correct answer in the space provided AND circle your choice in the list of possible answers. Students choosing more than one correct answer will get no credit for that question! (2 points each) 1. You notice that interest rates on consumer loans are pretty low (less than 10% APR, compounded monthly) so you decide to borrow some money to purchase a large flat screen TV right away. You have a choice between two loan offers, one from Bank A and another from Bank B. Interest on the loan from Bank A is compounded semiannually while interest on the loan from Bank B is compounded monthly. Your plan is to repay the loan in a single payment exactly two years from today. If both loans have the same effective annual rate of interest, you should
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This note was uploaded on 11/01/2011 for the course BUSINESS FIN301 taught by Professor Andrew during the Fall '10 term at University of Alberta.

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Fin 301 Midterm 091015 A - NAME: _ SEMINAR SECTION (PLEASE...

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