For Proposal 3, the initial outlay equals ________. (See Table 11.2)

Which of the following is characteristic of both cashier's checks and traveler's checks?

A) They are frequently issued by companies other than banks. B) Requirement of a countersignature when used C) Usually available only in certain fixed denominations D) The same party serves as both the drawee and drawer. E) Must be certified before they can be negotiated

A bond issued by Liberty, Inc. 10 years ago has a coupon rate of 8% and a face value of $1,000. The

bond will mature in 15 years. What is the value to an investor with a required return of 12.5%? A) $658.94 B) $750.86 C) $800 D) $701.52