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1. You purchase 6,500 bonds with a par value of $1,000 for $981 each. The bonds have a coupon rate of 10.4 percent paid semiannually
1. You purchase 6,500 bonds with a par value of $1,000 for $981 each. The bonds have a coupon rate of 10.4 percent paid semiannually and mature in 10 years. How much will you receive on the next coupon date? How much will you receive when the bonds mature? (Do not round intermediate calculations. Round your answers to the nearest whole number.) 2. The World Income Appreciation Fund has current assets with a market value of $13.3 billion and has 360 million shares outstanding. What is the net asset value (NAV) for this mutual fund? (Round your answer to 2 decimal places.) A. NET ASSET VALUE 3. An open-end mutual fund has the following stocks: Stock Shares Stock Price A 12,500 $ B 33,000 14 C 20,000 63 D 68,000 19 85 If there are 63,000 shares of the mutual fund, what is the NAV? (Do not round intermediate calculations. Round your answer to 2 decimal places.) A. NET ASSET VALUE 4. An open-end mutual fund has the following stocks: Stock Shares Stock Price A 12,500 $ 85 B 32,000 14 C 3,500 67 D 79,000 11 The fund has 51,000 shares and liabilities of $128,000. Assume the fund is sold with a front-end load of 3.5 percent. What is the offering price of the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 5. You invested $80,000 in a mutual fund at the beginning of the year when the NAV was $60.68. At the end of the year, the fund paid $0.38 in short-term distributions and $0.55 in long- term distributions. If the NAV of the fund at the end of the year was $75.39, what was your return for the year? 6. A sector fund specializing in commercial bank stocks had average daily assets of $4.3 billion during the year. Suppose the annual operating expense ratio for the mutual fund is 1.05 percent, and the management fee is 0.70 percent. How much money did the fund's management earn during the year? If the fund doesn't charge any 12b-1 fees, how much were miscellaneous and administrative expenses during the year? (Do not round intermediate calculations. Enter your answer in dollars not in millions, e.g., 1,234,567.)
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