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FIN 515 Midterm Exam Answers

FIN 515 Midterm Exam Answers

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FIN 515 Midterm Exam Answers

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FIN 515 Midterm Exam Answers

Question 1. (TCO G) The firm’s asset turnover measures:

Question 2. (TCO G) If Moon Corporation has an increase in
sales, which of the following would result in no change in its EBIT margin?

Question 3. (TCO B) You plan on retiring in 20 years. You
currently have $275,000 and think you will need $1,000,000 to retire. Assuming
you don’t deposit any additional money into the account, what annual return
will you need to earn to meet this goal?

Question 4. (TCO B) You take out a 4 year car loan for
$18,000. The loan has a 4% annual interest rate. The payments are made monthly.
What are the monthly payments? Show your work.

Question 5. (TCO B) You currently have $10,000 in your
retirement account. If you deposit $500 per month and the account pays 5%
interest, how much will be in the account in 10 years? Show your work.

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