1. One year ago Mike bought 100 ordinary shares of Dallas Company for $53 per share. He has just received an annual dividend of $1.45 per share and the shares are currently selling for $60 per share. Rounded to the nearest 10th of a per cent, what rate of return has Mike earned on the shares over the past year?

 

	a.	11.7 per cent
	b.	15.9 per cent
	c.	13.2 per cent
	d.	14.1 per cent

2. $200 invested today and earning 8 per cent per annum compounded semi-annually will grow to what amount at the end of three years?

	a.	$158.80
	b.	$253.06
	c.	$251.94
	d.	$380.75

3. The present value of $100 to be received 10 years from today, assuming an effective annual compound return of 9 per cent, is

	a.	$42.24
	b.	$699.13
	c.	$75.64
	d.	$236.10