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Test Bank Fundamentals of Corporate Finance, 11th Edition by Richard Brealey, Stewart Myers, Alan Marcus
Test Bank Fundamentals of Corporate Finance, 11th Edition by Richard Brealey, Stewart Myers, Alan Marcus.LATEST
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, Selected material fromT T
Fundamentals of Corporate Finance T T T
Third Edition T
Richard A. Brealey T T
Bank T of T England T and T London T Business T School
Stewart C. Myers T T
Sloan TSchool Tof TManagement
TMassachusetts TInstitute Tof
TTechnology
Alan J. Marcus T T
Wallace TE. TCarroll TSchool Tof TManagement
TBoston TCollege
with additional material from
T T T
Fundamentals of Corporate Finance, Alternate
T T T T T Fifth Edition
T
Essentials of Corporate Finance, Second
T T T T T Edition
Stephen A. Ross, Massachusetts Institute of Technology
T T T T T T
Randolph W. Westerfield, University of Southern
T T T T T T
California Bradford D. Jordan, University of Kentucky
T T T T T T T
UNIVERSITY OF PHOENIX T T
Boston T Burr TRidge, TIL T Dubuque, TIA T Madison, TWI T New TYork T San
TFrancisco T St. TLouis T Bangkok T Bogotá T Caracas T Lisbon T London
T Madrid
Mexico TCity T T Milan T T New T Delhi T T Seoul T T Singapore T T Sydney T T Taipei T T Toronto
,Selected material from
T T
FUNDAMENTALS OF CORPORATE FINANCE, Third Edition
T T T T T
with additional material from
T T T
FUNDAMENTALS OF CORPORATE FINANCE, Alternate Fifth Edition
T T T T T T
ESSENTIALS OF CORPORATE FINANCE, Second Edition
T T T T T T
Copyright T © T 2001 T by TThe T McGraw-Hill T Companies, T Inc. TAll T rights T reserved. T Printed T in T the T United T States
T of TAmerica. T Ex- Tcept T as T permitted T under T the T United T States T Copyright TAct T of T 1976, T no T part T of T this
T publication T may T be T reproduced T or T distrib- Tuted T in T any T form T or T by T any T means, T or T stored T in T a T data
T base T retrieval T system, T without T prior T written T permission T of T the T pub- Tlisher.
This T book T contains T select T material T from:
Fundamentals T of T Corporate T Finance, TThird T Edition T by T Richard TA. T Brealey, T Stewart T C. T Myers, T and TAlan T J. T Marcus.
T Copyright
© T 2001, T 1999, T 1995, T by TThe T McGraw-Hill T Companies, T Inc.
Fundamentals Tof TCorporate TFinance, TAlternate TFifth TEdition Tby TStephen TA. TRoss, TRandolph TW. TWesterfield, Tand
TBradford TD. T Jordan. T Copyright T © T 2000, T 1998, T 1995, T 1993, T 1991 T by TThe T McGraw-Hill T Companies,
T Inc.
Essentials Tof TCorporate TFinance, TSecond TEdition Tby TStephen TA. TRoss, TRandolph TW. TWesterfield, Tand TBradford TD.
TJordan. T Copyright T © T 1999 T by TThe T McGraw-Hill T Companies, T Inc. T Previous T edition T © T 1996 T by T Richard
T D. T Irwin, T a TTimes T Mirror THigher TEducation TGroup, TInc. Tcompany.
All T reprinted T with T permission T of T the T publisher.
ISBN 0-07-553109-7
T
Sponsoring TEditor: TChristian TPerlee
TProduction TEditor: TNina TMeyer
, Contents
SECTION 1 T 1
The Firm and the
T T T
How Tto TValue TPerpetuities
T 50 THow Tto TValue TAnnuities
Financial Manager
T T 3 T 51 TAnnuities TDue T 54
Organizing T a T Business 4 Future TValue Tof Tan TAnnuity T T 57
Sole T Proprietorships T T 4
Inflation T and T the TTime TValue T of T Money 61
Partnerships T T 5
Real Tversus TNominal TCash TFlows
Corporations T T 5
T 61 TInflation Tand TInterest TRates
Hybrid T Forms T of T Business TOrganization T T 6
T 63 TValuing TReal TCash TPayments
The T Role T of T the T Financial T Manager 7 T T 65 T Real Tor TNominal? T 67
The TCapital TBudgeting TDecision Effective TAnnual T Interest T Rates 67
T 8 TThe TFinancing TDecision T 9
Summary 69
Financial T Institutions T and T Markets 10 TRelated TWeb TLinks
Financial T Institutions T T 10 T 69 TKey TTerms
Financial T Markets T T 11 T 70
Other TFunctions Tof TFinancial TMarkets Tand Quiz T T 70
TInstitutions T 12 Practice TProblems T T 72
Who T Is T the T Financial T Manager? 13 Challenge T Problems T T 75
Careers T in T Finance T T 15 Solutions Tto TSelf-Test TQuestions
T 77 TMinicase T 79
Goals T of T the T Corporation 17
Shareholders TWant TManagers Tto TMaximize Financial Planning
T 81
TMarket TValue T 17 What T Is T Financial T Planning? 82
Ethics T and T Management T Objectives T T 19 Financial TPlanning TFocuses Ton Tthe TBig TPicture
Do TManagers TReally TMaximize TFirm TValue? T 83 TFinancial TPlanning TIs TNot TJust TForecasting
T 21 TSnippets Tof THistory T 25
T 84 TThree TRequirements Tfor TEffective TPlanning
T 84
Summary 25
Related TWeb TLinks 28 Financial T Planning T Models 86
TKey TTerms T 28
Components Tof Ta TFinancial TPlanning TModel
Quiz 28 T 87 TAn TExample Tof Ta TPlanning TModel T 88
Practice T Problems 29 An TImproved T Model T T 89
Solutions T to T Self-Test T Questions T 31
Planners T Beware 93
The Time Value of Money 33
T T T T
Pitfalls T in T Model T Design T T 93
Future TValues T and T Compound T Interest34 The TAssumption Tin TPercentage Tof TSales TModels
T 94 TThe TRole Tof TFinancial TPlanning TModels
Present TValues 38 T 95
Finding T the T Interest T Rate 44
External T Financing T and T Growth 96
Multiple T Cash T Flows 46
Future TValue Tof T Multiple T Cash T Flows46 Summary 100
Present TValue T of T Multiple T Cash T Flows49 TRelated TWeb TLinks
T 101 TKey TTerms
Level T Cash T Flows: T Perpetuities T and TAnnuities T 101
50 Quiz T T 101
Practice TProblems T T 102
Challenge T Problems T T 106
Solutions T to T Self-Test T Questions T T 106
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