Financial Economics 2nd Edition

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Financial_Economics_2nd_Edition_By_Cleeton
원서 영문 솔루션입니다. 전 범위 다 들어있고요 저는 2010년에 사용했습니다.
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목차

Chapter 1: Financial Economics
Chapter 2: Financial Markets and Institutions
Chapter 3: Managing Financial Health and Performance
Chapter 4: Allocating Resources Over Time
Chapter 5: Household Saving and Investment Decisions
Chapter 6: The Analysis of Investment Projects
Chapter 7: Principles of Market Valuation
Chapter 8: Valuation of Known Cash Flows: Bonds
Chapter 9: Valuation of Common Stocks
Chapter 10: Principles of Risk Management
Chapter 11: Hedging, Insuring, and Diversifying
Chapter 12 Portfolio Opportunities and Choice
Chapter 13: Capital Market Equilibrium
Chapter 14: Forward and Futures Markets
Chapter 15: Markets for Options and Contingent Claims
Chapter 16: Financial Structure of the Firm
Chapter 17: Real Options

본문내용

..FILE:Bodie2_IM_Ch05.pdf
CHAPTER 5 - Household Savings and Investment Decisions
End-of-Chapter Problems
1. Fred’s company has a defined-benefit pension plan. Suppose the plan pays a benefit equal to 1%
of final salary per year of service. Fred is 40 years old and has worked for the company for 15 years.
His last year’s salary was $50,000 and is expected to remain so in real terms until retirement. The
expected rate of inflation is 4%.
a. If normal retirement age is 65, the interest rate is 8%, and Fred’s life expectancy is 80, what is
the present value of his accrued pension benefit?
b. What efect should his pension benefit have on Fred’s planned saving assuming he has a 75%
target replacement rate?
Solution: a. Fred`s last year salary of $50,000 has a real growth rate of 0%, hence it will keep up with inflation
until retirement but not beat it. At retirement, he would have worked foor the company for a total of forty years.

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Bodie2_IM_Ch05.pdf
Bodie2_IM_Ch06.pdf
Bodie2_IM_Ch07.pdf
Bodie2_IM_Ch08.pdf
Bodie2_IM_Ch09.pdf
Bodie2_IM_Ch10.pdf
Bodie2_IM_Ch11.pdf
Bodie2_IM_Ch12.pdf
Bodie2_IM_Ch13.pdf
Bodie2_IM_Ch14.pdf
Bodie2_IM_Ch15.pdf
Bodie2_IM_Ch16.pdf
Bodie2_IM_Ch17.pdf
Bodie_IM_ToC.pdf
Bodie2_IM_Ch01.pdf
Bodie2_IM_Ch02.pdf
Bodie2_IM_Ch03.pdf
Bodie2_IM_Ch04.pdf

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