Prema purchased 15 ounces of gold in 2005 for $422 per ounce in order to try to
Question:
Prema purchased 15 ounces of gold in 2005 for $422 per ounce in order to try to diversify her investment portfolio. She sold a third of her holdings in gold in 2009 at a price of $944 per ounce. She sold the rest of her gold holdings in 2010 for $1,254 per ounce.
is Prema’s profit in 2009 and 2010?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
To calculate Premas profit in 2009 and 2010 we need to determine the total cost of the ...View the full answer
Answered By
Madhur Jain
I have 6 years of rich teaching experience in subjects like Mathematics, Accounting, and Entrance Exams preparation. With my experience, I am able to quickly adapt to the student's level of understanding and make the best use of his time.
I focus on teaching concepts along with the applications and what separates me is the connection I create with my students. I am well qualified for working on complex problems and reaching out to the solutions in minimal time. I was also awarded 'The Best Tutor Award' for 2 consecutive years in my previous job.
Hoping to get to work on some really interesting problems here.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Personal Finance
ISBN: 9781264101597
14th Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
Find a Leadership/Organization issue using one of the cases that you may find online. Once you have found a case, I'd like for you to then follow the steps located here in order to analyze the case...
-
A. Call option price goes from $2.05 to $1.85 while the underlying stock price decreases from $40 to $38. What is the value of call Delta? What is the value of put Delta? If the price of the stock...
-
Prema purchased 15 ounces of gold in 2005 for $422 per ounce in order to try to diversify her investment portfolio. She sold a third of her holdings in gold in 2009 at a price of $944 per ounce. She...
-
A sample consisting of 1.00mol Ar is expanded isothermally at 20 C from 10.0dm 3 to 30.0dm 3 (i) Reversibly, (ii) Against a constant external pressure equal to the final pressure of the gas, (iii)...
-
Now suppose that Firm Body did not bring an action against Brock. What type of lawsuit might Penada be able to bring based on these facts? David Brock is on the board of directors of Firm Body...
-
Anthony Manufacturing Company began operations on January 1. During the year, it started and completed 3,400 units of product. The company incurred the following costs. 1. Raw materials purchased and...
-
The summary statistics for a certain set of points are: n = 20, se = 4.65, (x x)2 = 118.26, and b1 = 1.62. Assume the conditions of the linear model hold. A 99% confidence interval for 1 will be...
-
The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics Corporation. Additional Information: 1. The common stock represents 1 million shares of no par stock...
-
As part of the "GI Bill of Rights," veterans are able to obtain mortgage loans with little or no down payment and low interest rates, with loan to value ratios of up to %. Private lenders are...
-
The owner of Neros company has hired you to analyze her company's performance and financial position, as well as the positions of Iits competitors, Centar and Xermix. However, the data Neros abtained...
-
Prema purchased 15 ounces of gold in 2005 for $422 per ounce in order to try to diversify her investment portfolio. She sold a third of her holdings in gold in 2009 at a price of $944 per ounce. She...
-
Assume your home is assessed at $200,000. You have a $150,000 loan for 30 years at 6 percent. Your property tax rate is 1.5 percent of the assessed value. In year one, you would pay $9,000 in...
-
Which of the following is not an advantage of creating a class that inherits from another class? a. You make it easier for anyone who has used the original class to understand the new class. b. You...
-
In capital budgeting, a distinction has been made regarding the process of "assessment" as being distinctively different than "evaluation." What is the difference and why is it important?
-
In evaluating projects of unequal lives, what are some of the limitations of the "repeatability analysis" that might be cause for concern?
-
Assigning an MARR seems more like an art than a science. How, then, is the assignment of MARR meaningful?
-
In ranking projects with the NPV criterion, there are situations where a short-term high cost of capital project is more favorable than a long-term low cost of capital project. Does this make sense?...
-
Suppose that changes in the economy are making investors more risk-adverse. How would this affect the WACC (through the cost of debt and the cost of equity)?
-
What is the difference between the cash basis and the accrual basis of accounting?
-
If the amplifier indicated by the box input impedance of oo, which of the following statements are true ? has an open loop gain as well as Feedback factor (\beta = 1/ R_1\) The feedback is voltage...
-
Eileen (from question7) wants a car that costs $ 12,000. How long would it have taken Eileen to save for the outright purchase of the car if she did not have any credit card debt and used the...
-
Chen recently graduated from college and accepted a job in a new city. Furnishing his apartment has proven more costly than he anticipated. To assist him with making purchases, he applied for and...
-
Compare the amount of interest that the Sampsons are earning on their savings and paying on their credit card debt by completing the following worksheet. Savings Interest rate earned on savings...
-
Benchmarking compares the practices of high-performing clinical laboratories or academic institutions' results to yours. How does benchmarking improve the human resource performance of your clinical...
-
What's the purpose of a research question? What can you do to ensure your research questions are aligned with the purpose of your study and the needs of your intended audience? Why is it important...
-
Should all stakeholders be given equal treatment or just fair treatment? Should certain stakeholders be given more preferential treatment than others? Why or why not? Explain in details.
Study smarter with the SolutionInn App