Test Bank for Portfolio Construction Management and Protection, 5th Edition: Strong
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Test Bank for Portfolio Construction Management and Protection, 5th Edition: Strong
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Author:
Learn the details of traditional investment as well as portfolio theory with the straightforward, manageable approach found in Strong’s successful PORTFOLIO CONSTRUCTION, MANAGEMENT, AND PROTECTION, 5E. You’ll learn how to save time and money as this applications-oriented book guides you from theory to practice. You’ll see the small and large investor in action as unique topics introduce you to fiduciary duty, investment policy, and other subjects not found in other texts. References throughout the book to material covered in the CFA exam and questions drawn from the CFA exam help you prepare for testing and professional success.
Table of Content:
Present value:
Present value refers to the current worth of a future sum of money or stream of cash flows for a specific rate of return.
Analysis:
Calculate the amount needed to be deposited to get the plan in motion. Plan will begin to make annual payments 26 days from the date when funding for the plan begins.
Custodian will receive a single cash payment each year, for 15 years. First payment will be $5,000. Growth rate is 4%. Required rate of return is 8%.
After the last payment to the custodian, the fund will have a zero balance. This means follows,
Calculation of present value of payments out is as follows:
Where,
Calculation of payment in is as follows:
Let 
be the initial amount paid, then
Where,
Calculation of initial amount paid is as follows:
Conclusion:
From the above calculations, we conclude that the initial amount to fund the retirement is $467.42.
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