Homework Set #2: Chapters 4 & 5

Directions: Answer the following questions on a separate document.
Explain how you reached the answer or show your work if a mathematical
calculation is needed, or both. Submit your assignment using the
assignment link above.

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A. You have just won the Strayer Lottery jackpot of $11,000,000. You
will be paid in 26 equal annual installments beginning immediately. If
you had the money now, you could invest it in an account with a quoted
annual interest rate of 9% with monthly compounding of interest. What is
the present value of the payments you will receive?

B. In your own words and using various bond websites, please locate
one of each of the following bond ratings: AAA, BBB, CCC, and D. Please
describe the differences between the bond ratings. Identify the
strengths and weaknesses of each rating.

Click here to view the grading rubric.