1 Sood 122300 12. Joanne buys 500 shares of ABC at 50. She buys another 500 shares at 40 after the stock drops IQODY 656 SOO Keno she sells her entire position at 48, her gain or loss (be sure to indicate) is 13. Frank sells short 2000 shares of DEF at 30. The stock goes up to 35. If Frank buys back the 2000 shares at 35, his gain or loss (be sure to indicate) will be 14. Maria initially buys 1000 shares of ZZZ at 30. It falls to 27 and she sells it. It goes back up to 32 and she decides she made a mistake by selling and goes back in, buying 1000 shares at 32. Where does the stock have to go for Maria to at least break even on all her trades in ZZZ? TIME VALUE (5 points each) 15. You will receive $25,000 in 12 years. What is the approximate present value if interest rates are 6%? YOU ARE NOT PERMITTED TO USE A CALCULATOR ON THIS QUESTION. 12, 474.23 16. If you invest $10,000 today at 5%, compounded semiannually, how much will you have after four years? 11,038.13 17. What is the present value of an annual cash flow of $5000, paid in perpetuity, if interest rates are 4%? 18. What is the value of an annuity of $20,000 per year for 10 years if interest rates are zero? 19. What is the effective annual interest rate of 8% compounded quarterly? 20. What is the value of a 10-year annuity of $20,000 per year if interest rates are 4%