21 May WHAT TYPES OF INVESTMENT PROJECTS WOULD YOU EXPECT TO FIND IN A MINERALS COMPANY?
You are in the final stage of the selection process for the job of assistant financial analyst at the Antipodes Mineral Resources company(AMR). This involves atest of your understanding of basic financial concepts. You are given the following memo and asked to respond to the questions. Whether or not you are offered a position at the company will depend on the quality of your responses.
To :Applicants for the position of assistant financial analyst
From:K.Abbott-Gill,CFO,Antipodes Mineral Resources Co.(AMR)
Re:A test of your understanding of basic financial concepts
Please respond in writing to the following questions:
1.What types of investment projects would you expect to find in a minerals company?
2.you will be working in the CFO’s office if you obtain this job.What activities do you expect are undertaken in this office?
3.AMR is a public company, listed on the stock exchange.How does this fact have a bearing on the goal we should bear in mind when managing our finances?
4.Does or should AMR have any other accountabilities apart from responsibilities to the firm’s owners?
You have just obtained your first job after graduating, as a media research analyst. Your new emplyer, Bizweek Online Services, has asked you to prepare some background material for a series of news articles that are scheduled to appear in the next edition.
1.The government is rumoured to be proposing a new superannuation policy,aimed at giving all current full-time workers a $10000 ‘handout’ to boost their retirement savings. The average recipient is 44 years old and to average expected retirement age is 64. How much money would the handout grow to at the average person’s retirement age if the money earned 6% p.a. in a special bank savings account established for retirement savings?
2.As an alternative to scenario 1,above,what would be the expected payoff from putting the money into the sharemarket if it had a projected average return of 12% p.a. in the long run?
3.Australia has some of the most expensive housing in the world, relative to rental income and annual incomes. If the average house price is $500000, and if the current mortgage interest rate is 9% APR, compounded and repayable monthly,how much would a borrower need to earn per month (and year) to buy an average house if the lender allowed the borrower to commit 40% of gross income to loan repayments, assuming the borrower had saved a $200000 deposit and would pay the loan over a term of 30 years?
4.The recent ‘Greek bond crisis’ still surfaces from time to time as commentators speculate about the long-term fate of the greek government’s ability to repay its maturing bonds. If an investor held Greek bonds with 10000000 euros maturity, how much would these bonds be worth if the yield on Greek government bonds was 8% p.a.?
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