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BBF612S - Business Finance - 1st Opp - Nov 2022 |
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nAmlBlA unlVERSITY
OF SCIEnCEAno TECHn0L0GY
FACULTYOF COMMERCEH, UMANSCIENCESAND EDUCATION
DEPARTMENT OF MANAGEMENT
QUALIFICATION: Bachelor of Business Management and Bachelor of Entrepreneurship
QUALIFICATION CODE: 07BBMA and 07BENT LEVEL:7
COURSE CODE: BBF612S
COURSE NAME: BUSINESS FINANCE
DATE: November 2022
SESSION: 1st Opportunity
DURATION: 2H00 MINUTES
MARKS: 100
EXAMINER(S}
Moderator
FIRST OPPORTUNITY EXAMINATION PAPER
Mr. A. Ndjavera
Mrs. B Ndungaua
Mr. Bramwell Kamudyariwa
Mr E Mbanga
1. Answer all questions.
INSTRUCTIONS
2. Read all the questions carefully before answering.
3. Use the attached financial tables A, B, C &D.
4. Marks for each question are indicated at the end of each question.
5. This paper consist of two (2) sections.
6. In Section 2, Questions 7 and 8 have two alternatives each, only select ONE alternative
per question.
7. Please ensure that your writing is legible, neat and presentable.
THIS QUESTION PAPER CONSISTS OF _10_ PAGES (Including this front page)
PERMISSABLE MATERIAL- Calculator
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SECTION 1.
Multiple choice
[Sub-total marks: 11]
1. What is the present value of N$250,000 receivable a year from now at an interest of
12%?
a. N$223,214.29
b. N$230,540.50
c. N$224,560.56
d. N$222,215.29
e. N$221,214.29
2. If Kudu Limited invests N$15,500 at the end of each year for 10 years in an
investment account, earning an interest of 13% p.a compound interest. What will be
the future value at the end of the period?
a. N$52,622.50
b. N$285,510
c. N$84,103
d. N$289,510
e. N$230,540
3. Which is not a principle of budgeting?
a. Effective Communication
b. Follow-up and feedback
c. Profitability
d. Adaptability
e. a) and d)
4. The following measures are employed to prevent the loss of cash in a business:
a. Checklist system
b. Weighted scoring system
c. Regular stocktaking
d. Use of pre-numbered receipts
e. All of the above
5. The functions of a financial manager includes ...
a. Making investment decisions
b. Making financing decisions
c. Ensuring profitability of the firm
d. a) and c)
e. All of the above
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6. When financing assets, the financial manager should consider ...
a. Cyclical variations and level of business activity
b. Competitive forces and taxes
c. Money and capital markets
d. Suitability
e. All of the above
7. Discounted cash flow techniques does not include
a. Net Present Value
b. Profitability index
c. Internal rate of return
d. Payback period
e. b) and d)
8. A firm uses 780 litres of diesel per day for its mining activities. After placing an order,
it takes 4 days for the diesel to be delivered. What is this firm's reorder point?
a. 3,120 litres
b. 5,520 litres
c. 3,000 litres
d. 2130 litres
e. 4500 litres
9. Firms maintain safety stocks for the following reasons:
a. To provide for a sudden increase in the demand for a specific item in stock
b. To guard against delays in receiving orders
c. To carry additional stock
d. a) and b)
e. None of the above
10. Two of the three fundamental principles of financial management are:
a) Cost-benefit analysis and Break-even analysis
b) Break-even analysis and Risk-Return analysis
c) The Time Value of Money and Breakeven-Analysis
d) Risk-Return analysis and Cost-Benefit analysis
e) (a) and (c)
11. A business's liquidity ratio is at a sub-satisfactory level and the Net Working Capital is
exceedingly below the company's set minimum. What corrective action will you
recommend to remedy the problem soonest?
a) Increase the slow moving inventory by buying more stock.
b) Lengthen the average collection period.
c) Issue sales on credit to boost sales.
d) Improve effectiveness and efficiency by offering training.
e) None of the above.
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Short questions
SECTION2.
[Sub-total Marks: 89]
Question 1: Financial goals of a firm
(6 marks)
Discussthe financial short-term and long term goals of a business.
Question 2: Financial statements
(14 Marks)
Identify the 7 principal users of financial statements and explain the information and/or
purpose for their interest.
Question 3: Ratio Analysis
(15 Marks)
Summarise the different types of ratios, clearly indicating what each measures. Provide an
example for each type.
Question 4: Profit planning and control
(12 Marks)
Using the information provided below, calculate the breakeven in
a) Units
b) Monetary terms/ value
c) The margin of safety
d) If the selling price is increased by 27%, what will be the breakeven point in unit?
Description
Total sales units
Total sales turnover
Total variable costs
Total fixed costs
50,000
N$1,500,000
N$950,000
N$450,000
Parameters
Question 5: The time value of money
(5 Marks)
Khomas Textiles CC may borrow N$5,000,000 from the Development Bank for business
expansion purposes. The bank will charge 16% and Khomas Textiles has agreed to make
equal annual end-of-year payments over 10 years.
Calculate the monthly instalments that Khomas Textiles CCwill be paying.
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Question 6: Capital budgeting
(11 Marks)
Nico Limited needs to procure a machine for their manufacturing business. They have an option
between 2 machines that they can buy.
• Machine A will cost N$95,000.
• Machine B will cost N$85,500
• The cost of capital on the investment is 16%. They expect the following cash inflow for the next
6 years:
Period
1
2
3
4
5
6
Machine A Machine B
Cash Inflow (N$)
28,000
25,000
30,000
19,000
32,000
25,900
30,000
19,500
42,500
20,900
29,700
22,600
a) Calculate the Net Present Values of both investments. (8 marks).
b) Which machine would be advisable to procure under the NPV technique? Explain your answer (3
marks)
Question 7: Financing
Select and answer either one (1) of the following two questions below:
(16 Marks)
1. Compare and contrast equity versus debt financing.
OR
2. A firm needs to have financing of N$5,000,000 and is considering issuing shares at
N$20 each, additionally, the firm is evaluating five debt-equity ratios options,
namely; 0%, 10%,20%, 30% or 40%.
a) Based on the above debt-equity ratios, how many ordinary shares will be issued
respectively?
b) Based on the above debt equity ratios, how much debt financing will be required
for each of the five options?
c) Based on the above debt equity ratios, what will be the amount of ordinary
shares under each respective proposed ratio?
Provide your answer in a table formats with the following headings:
Debt equity
ratio
Number or
Par
ordinary shares
Amount of ordinary
shares
Amount of debt
Total
financing
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Question 8: Managing working capital
Select and answer either one (1) of the following two questions below
(10 Marks)
1. What measures will you put in place to prevent inventory loss?
OR
2. The Economic Order Quantity is based on the assumptions that sales can be forecast
exactly, evenly distributed throughout the year and orders are received without
delays.
Consider the following data of ABC Ltd:
Annual Sales= 133 000, carrying cost as percentage of inventory value of 19% of the
inventory value, purchase price per unit is N$350.00/unit and fixed costs of placing
and receiving an order is N$ 60.00 per order. Lastly, assuming a 52-week year.
1. Calculate the firm order quantity.
2. Determine thus the rate at which inventory varies in units.
3. Determine the average inventory on hand in units.
-END-
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n 1% 2% 3% 4% 6% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 20% 25% 30%
1 1,010 1,020 1,030 1,040 1,050 1,060 1,070 1,080 1,090 1,100 1,110 1,120 1,130 1,140 1,150 1,160 1,200 1,250 1,300
2 1,020 1,040 1,061 1,082 1,103 1,124 1,145 1,166 1,188 1,210 1,232 1,254 1,277 1,300 1,323 1,346 1,440 1,563 1,690
3 1,030 1,061 1,093 1,125 1,158 1,191 1,225 1,260 1,295 1,331 1,368 1,405 1.443 1,482 1,521 1,561 1.728 1,953 2,197
4 1,041 1,082 1,126 1,170 1,216 1,262 1,311 1,360 1,412 1,464 1,518 1,574 1,630 1,689 1,749 1,811 2,074 2,441 2,856
5 1,051 1,104 1,159 1,217 1,276 1,338 1.403 1.469 1,539 1,611 1,685 1,762 1,842 1,925 2,011 2,100 2,488 3,052 3,713
6 1,062 1,126 1,194 1,265 1,340 1,419 1,501 1,587 1,677 1,772 1,870 1,974 2,082 2,195 2,313 2,436 2,986 3,815 4,827
7 1,072 1,149 1,230 1,316 1.407 1,504 1,606 1,714 1.828 1,949 2,076 2,211 2,353 2,502 2,660 2.826 3,583 4,768 6,275
8 1,083 1,172 1,267 1,369 1,477 1,594 1,718 1,851 1,993 2,144 2,305 2,476 2,658 2,853 3,059 3,278 4,300 5,960 8,157
9 1,094 1,195 1,305 1,423 1,551 1,689 1,838 1,999 2,172 2,358 2,558 2,773 3,004 3,252 3,518 3,803 5,160 7.451 10,60
10 1,105 1,219 1,344 1,480 1,629 1,791 1,967 2,159 2,367 2.594 2,839 3,106 3,395 3,707 4,046 4.411 6,192 9,313 13,79
11 1,116 1,243 1,384 1,539 1,710 1,898 2,105 2,332 2,580 2,853 3,152 3,479 3,836 4,226 4.652 5,117 7,430 11.64 17,92
12 1,127 1,268 1.426 1,601 1,796 2,012 2,252 2,518 2,813 3,138 3,498 3,896 4,335 4,818 5.350 5,936 8,916 14,55 23.30
13 1,138 1,294 1,469 1,665 1,886 2,133 2.410 2.720 3,066 3,452 3,883 4,363 4,898 5.492 6,153 6,886 10,70 18.19 30,29
14 1,149 1,319 1,513 1,732 1,980 2.261 2,579 2,937 3,342 3,797 4,310 4,887 5,535 6,261 7,076 7,988 12,84 22.74 39.37
15 1,161 1,346 1,558 1,801 2,079 2.397 2,759 3,172 3,642 4,177 4,785 5,474 6,254 7,138 8,137 9,266 15,41 28.42 51,19
16 1,173 1,373 1,605 1.873 2,183 2,540 2,952 3.426 3,970 4,595 5,311 6,130 7,067 8,137 9,358 10,75 18,49 35.53 66.54
17 1,184 1.400 1.653 1,948 2.292 2,693 3,159 3.700 4,328 5,054 5,895 6,866 7,986 9,276 10,76 12.47 22.19 44,41 86.50
18 1,196 1.428 1.702 2,026 2,407 2,854 3,380 3,996 4,717 5,560 6,544 7,690 9.024 10,58 12.38 14.46 26.62 55.51 112,5
19 1,208 1,457 1.754 2.107 2,527 3,026 3,617 4,316 5,142 6,116 7,263 8,613 10,20 12,06 14.23 16.78 31,95 69,39 146,2
20 1,220 1.486 1,806 2,191 2,653 3,207 3,870 4,661 5,604 6,727 8,062 9,646 11.52 13,74 16,37 19.46 38,34 86,74 190,0
21 1,232 1,516 i,860 2,279 2,786 3.400 4,141 5,034 6,109 7,400 8,949 10,80 13,02 15,67 18,82 22,57 46,01 108,4 247, 1
22 1,245 1,546 1,916 2,370 2,925 3,604 4,430 5,437 6,659 8,140 9,934 12,10 14,71 17,86 21,64 26,19 55,21 135,5 321,2
23 1,257 1,577 1,974 2.465 3,072 3,820 4,741 5,871 7,258 8,954 11,03 13,55 16.63 20,36 24,89 30,38 66,25 169.4 417.5
24 1,270 1,608 2,033 2,563 3,225 4,049 5,072 6,341 7,911 9,850 12,24 15.18 18.79 23,21 28,63 35,24 79,50 211,8 542.8
25 1,282 1.641 2,094 2,666 3.386 4,292 5,427 6,848 8,623 10,83 13,59 17,00 21,23 26,46 32,92 40,87 95,40 264,7 705,6
30 1,348 1,811 2.427 3,243 4,322 5,743 7,612 10,06 13,27 17,45 22,89 29,96 39,12 50,95 66,21 85,85 237.4 807.8 2620
35 1,417 2,000 2,814 3,946 5,516 7,686 10,68 14,79 20.41 28,10 38,57 52,80 72,07 98,10 133,2 180,3 590,7 2465 9728
40 1,489 2,208 3,262 4,801 7,040 10,29 14,97 21,72 31,41 45,26 65,00 93,05 132,8 188.9 267,9 378,7 1470 7523 36119
45 1,565 2,438 3.782 5,841 8,985 13,76 21,00 31,92 48,33 72,89 109,5 164,0 244,6 363,7 538,8 795.4 3657 22959
50 1,645 2,692 4,384 7,107 11.47 18,42 29,46 46,90 74,36 117,4 184,6 289,0 450,7 700,2 1084 1671 9100 70065
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n 1% 2% 3% 4% 5% 6% • 7% 8%
1 1,000 1,000 1,000 1,000 1_,000 1,000 1,000 1,000
2 2.010 2,020 2.030 2,040 2.050 2.060 2.070 2,080
3 3.030 3,060 3,091 3,122 3,153 3,184 3,215 3,246
4 4,060 4,122 4,184 1,246 4,310 4.375 4.440 4,5!)6
5 5.101 5,204 5.309 5_,416 5,526 5,637 5.751 5,867
6 6.152 6.308 6.468 6,633 6,802 6,975 _7.153 7,336
7 7.214 7.434 7,662 7.898 3.142 8.394 8,65'1 8,923
8 8,286 8.583 8,892 9,214 9,549 9,897 10.26 10,64
9 9.369 9,755 10.16 10.58 11.03 11.49 11,98 12.49
II 10 10.46
il 11.57
i I12 12,68
r,3 ! 13.81
10,95
12,17
13,41
1.\\,68
l ,-1 I 1-1,95 15,97
11,,16 12,01
12.81 13.49
14.19 15,03
1!3,62 16,63
17.09 18,29
12.58
R21
15.92
i 7,71
19,60
13.18
14.97
16,87
18.88
21.02
13.82
15,78
17,89
20.14
22.55
14.49
16,65
18,98
21,50
24.21
j 15 16.10 17.29 18.G0 20.02 21,58 23.28 25.13 27,15
16 17.26 18.64 20.16 21.82 23.66 25.67 27.89 30.32
17 18.43 20.0i 21.76 23.70 25,84 28.21 30,84 33.75
18 19.61 21.41 23.41 25,65 28,13 30,91 34,00 37.45
19 ?.0.81 22,84 25,12 27.G? 30,54 33,76 37.38 41.45
20 22.02 2.\\,30 26.87 29.78 33.07 36.79 41,00 45,76
1?.l 23.2.\\ 25.78 28.68 31.97 35.72 39,99 4•1.87 50.42
22 24,47 27.30 30.54 34.25 38,51 43,39 49,01 55,46
2:1 25.72 28.8,1 32.-15 36,62 41,<13 47,00 53.44 60.89
24 26.97 30.42 34.43 39.08 44.50 50,82 58.18 66.76
25 28,24 32.03 36.46 41,65 47,73 54,86 63.25 73,11
30 34,78 40.57 47,58 56,08 66,44 79.06 94,46 113.3
35 41.66 49,99 60.46 73,65 90,32 111,4 138.2 172,3
40 48,89 60.40 75,40 95,03 120,8 154,8 199,6 259,1
45 56.48 71,89 92.72 121.0 159,7 212.7 285,7 386,5
50 64.46 84,58 112.8 152.7 209.3 290.3 406.5 573,8
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9% 10% 11%
1,000 1,000 1,000
2.090 2.100 2.110
3,278 3,310 3,342
4,573 4,641 4,710
5,985 6,105 6,228
7,523 7,716 7,913
9,200 9.4_87 9,783
11·,03 11,44 11,86
13.02 13.58 14.16
15,19 15,94 16.72
17,56 18.53 19.56
20,14 21.38 22.71
22.95 24,52 26,21
26.02 27,97 30,09
29,36 31,77 34.41
33.00 35.95 39.19
36.97 40.54 44,50
41.30 45.60 50.40
46,02 51.16 56.94
51,16 57.27 64,20
56.76 64,00 72.27
62.87 71.40 81.21
69.53 79.54 91,15
76.79 88.50 102,2
84.70 98.35 114.4
136,3 164.5 199,0
215.7 271,0 341,6
337.9 442,6 581,8
525.9 718,9 986,6
815.1 1164 1669
12%
1,000
2,120
3,374
4,779
6,353
8,115
10,089
12,30
14,78
17,55
20,65
24.13
28.03
32,39
37,28
42.75
48.88
55.75
63,44
72.05
81.70
92,50
104,6
118.2
133,3
241,3
431,7
767,1
1358
2400
13%
1,000
2,130
3.407
4,850
6.480
8,323
10,405
12.76
15.42
18,42
21,81
25.65
29,98
34,88
40,42
46.67
53.74
61.73
70,75
80.95
92.47
105,5
120.2
136.8
155,6
293,2
546,7
1014
1874
3460
14%
1,000
2.140
3.440
4,921
6,610
8,536
10.730
13,23
16,09
19.34
23.04
27,27
32.09
37.58
43.84
50,98
59.12
68.39
78.97
91.02
104,8
120.4
138.3
158.7
181.9
356,8
693,6
1342
2591
4995
15%
1,000
2.150
3.473
4.993
6.742
8,754
11.067
13,73
16,79
20.30
24,35
29.00
34.35
40.50
47.58
55.72
65,08
75.84
88.21
102.4
118,8
137.6
159.3
184.2
212.8
434,7
881.2
1779
3585
7218
16% 20%
1,000 1,000
2.160 2.200
3,506 3,640
5,066 5,368
6,877 7,442
8,977 9,930
1-1.414 12,916
14,24 16.50
17.52 20.80
21.32 25.96
25,73 32,15
30.85 39.58
36.79 48,50
43,67 59.20
51.66 72.04
60.93 87.44
71.67 105.9
84.14 128.1
98,60 154,7
115.4 186.7
134.8 225.0
157.4 271.0
183.6 326.2
214.0 392.5
249,2 472,0
530.3 1182
1121 2948
2361 7344
4965 18281
10436 45497
25% 30%
1,000 1.000
2,250 2,300
3,813 3,990
5,766 6,187
8.207 9,043
11,259 12.756
15,073 '17,583
19.84 23.86
25.80 32,01
33.25 42.62
42,57 56,41
54.21 74,33
68.76 97.63
86.95 127.9
109.7 167.3
138.1 218.5
173,6
218,0
285.0
371.5
273,6 484,0
342.9 630.2
429.7 820,2
538.1 1067
673.6 1388
843.0 1806
1055 23~9
3227 8730
9857 32423
30089
91831
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n 1% 2% .3%
4% 5%
6%
1 0.990 0,980 0,971 0,962 0.952 0,943
2 0.980 0.961 0,943 0.925 0,907 0,890
3 0.971 0,942 0,915 0,889 0.864 0,840
4 0.961 0.924 0.888 0,855 0,823 0.792
5 0.951 0.906 0,863 0.822 0,784 0.747
6 0.9-12 0.888 0,837 0.790 0.7-16 0.705
7 0.933 0.871 0,813 0.760 0,711 0,665
8 0.923 0,853 0.789 0.731 0.677 0.627
9 0.914 0.837 0.766 0.703 0,645 0,592
10 0.905 0.820 0.7-1-l 0.676 0.61-1 0.558
ii 0.896 0.804 0.722 0.650 0.585 0.527
i2 0.887 0.788 0.701 0,625 0.557 0.497
13 0.679 0,773 0,681 0.60; 0.530 0.469
iJ 0.870 0.758 0.661 0,577 0.505 0.442
15 0,861 0.7-13 0.642 0.555 0.481 0.417
16 0.853 0.728 0.623 0,534 0.-158 0.394
17 0.8-IJ 0.714 0,605 0.513 0.436 0,371
18 0.836 0.700 0.587 0.49•1 0.416 0,350
19 0.828 0.686 0.570 0.475 0,396 0,331
20 0.820 0.673 o,ss,1 0.456 0,377 0.312
21 0.811 0.660 0.538 0.439 0.359 0.294
22 0.803 0.647 0.522 0.422 0,342 0,278
23 0.795 0.634 0,507 0.406 0.326 0,262
24 0.788 0.622 0.492 0,390 0,310 0,247
25 0,780 0,610 0,478 0,375 0,295 0,233
30 0.742 0,552 0.412 0.308 0,231 0,174
35 0,706 0.500 0.355 0.253 0,181 0.130
40 0.672 0,453 0,307 0,208 0.142 0,097
45 0,639 0.410 0.264 0,171 0,111 0,073
50 0,608 0,372 0,228 0,141 0,087
· PVIF ,f}OOwh~n :ounU~r:lto thrP.,'r-l1x1111;1rl,J.1t::%
0,054
7%
0,935
0.873
0,816
0.763
0.713
0.666
0,623
0.582
0.544
0.508
0.475
0.444
0.415
0.388
0,362
0.339
0,317
0.296
0,277
0,258
0,242
0.226
0,211
0,197
0,184
0,131
0,094
0,067
0,048
0.034
8%
0,926
0.857
0,794
0,735
0,681
0,630
0.583
0,540
0.500
0,463
0.429
0,397
0,368
0,340
0,315
0,292
0,270
0,250
0.232
0.215
0,199
0.184
0,170
0,158
0.146
0,099
0,068
0,046
0.D31
0.021
9%
0,917
0,842
0.772
0,708
0.650
0.596
0.547
0.502
0.460
0.422
0.388
0.356
0,326
0,299
0.275
0,252
0.231
0.212
0.194
0.178
0.164
0,150
0.138
0.126
0,116
0,075
0.049
0,032
0.021
0,013
10%
0,909
0.826
0.751
0,683
0.621
0,564
0.513
0.467
0,424
0,386
0.350
0,319
0,290
0.263
0,239
0.218
0.198
0.180
0.164
0,149
0,135
0,123
0,112
0,102
0.092
0,057
0.036
0,022
0,014
0,009
11% 12%
0,901 0.893
0.812 0,797
0,731 0,712
0,659 0.636
0.593 0,567
0,535 0.507
0,482 0.452
0.434 0,404
0,391 0.361
0.352 0,322
0.317 0,287
0.286 0.257
0.258 0.229
0.232 0.205
0.209 0.183
0.188 0.163
0.170 0,146
0, 153 0,130
0,138 0,116
0,124 0,104
0.112 0,093
0.101 0,083
0.091 0,074
0.082 0,066
0.074 0.059
0.044 0,033
0,026 0,019
0.0,5 0,011
0,009 0,006
0,005 0,003
13%
0,885
0,783
0,693
0,613
0,543
0.480
0.425
0.376
0.333
0.295
0.261
0.231
0.204
0.181
0.160
0.141
0.125
0.111
0,098
0,087
0,077
0,068
0,060
0.053
0,047
0,026
0,014
0,008
0,004
0.002
14% 15% 16% 20% 25% 30%
0,877 0.870 0,862 0.833 0,800 0,769
0,769 0,756 0,743 0.694 0,640 0.592
0,675 0,658 0,641 0,579 0,512 0.455
0.592 0,572 0,552 0.482 0.410 0.350
0.519 0.497 0.476 0,402 0.328 0.269
0.456 0.432 0.410 0.335 0.262 0.207
0.400 0,376 0,354 0.279 0.210 0.159
0.351 0.327 0.305 0.233 0.168 0.123
0.308 0,284 0.263 0.19-1 0.134 0.09J
0,270 0,2-17 0.227 0.162 0.107 0.073
0,237 0.215 0.195 0.135 0.086 0.056
0.208 0.187 0.168 0.112 0.069 0.0-13
0.182 0.163 0.1-15 0.093 0.055 0.033
0,160 0,1-11 0.125 0.078 0,04,1 0.025
0,140 0.123 0.108 0.065 0.035 0.020
0, 123 0.107 0,093 0.05-1 0.028 O.Q15
0,108 0,093 0,080 0,045 0.023 0.012
0.095 0.081 0,069 0,038 0,018 0,009
0.083 0,070 0,060 0.031 0.014 0.007
0,073 0,061 0.051 0.026 0,012 0,005
0,064 0.053 0,044 0,022 0,009 0,004
0,056 0,046 O.D38 0.0,8 0,007 0.003
0,049 0.040 0,033 0.015 0,006 0.002
0.043 O.D35 0.028 0,013 0.005 0.002
0,038 0,030 0,024 0,010 0,004 0,001
0,020 0,015 0,012 0,004 0,001
0,010 0.008 0.006 0,002
0,005 0,004 0,003 0.001
0,003 0.002 0.001 0,000
0.001 0,001 0,001
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2.8 Page 18 |
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2.9 Page 19 |
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~-
n 1% 2% 3% 4% 5% . 6%.C. l'llo 8,%. · 9% . 10%. 11%. 12%>::rn%. .14% ·is%'.'16%~-:~29%-25··%, 30%
_2_~),990 0,980 0.971 0,962 0,952 0,943 0,935 0,926 0,917 0,909 0,901 0,893 0,885 0,877 0,870 0,862 0,833 0,800 0,769
2 1,970 1,942 1,913 1,886 1,859 1,833 1,808 1,783 1,759 1,736 1,713 1,690 1,668 1,647 1,626 1,605 1,528 1,440 1,361
3 :2,941 2.884 2.829 2,775 2,723 2,673 2,624 2,577 2,531 2,487 2,444 2,402 2,361 2,322 2,283 2,246 2,106 1,952 1,816
,1 3,902 3,808 3,717 3,630 3,546 3,465 3,387 3,312 3,240 3,170 3,102 3,037 2,974 2,914 2,855 2,798 2,589 2,362 2,166
5 •i,8$3 4,713 4,580 4,452 4,329 4,212 4,100 3,993 3,890 3,791 3,696 3,605 3,517 3,433 3,352 3,274 2,991 2,689 2,436
6 6,795 5,601 5,417 5,242 5,076 4,917 4,767 4,623 4,486 4,355 4,231 4,111 3,998 3,889 3,784 3,685 3,326 2,951 2,643
7 li,?c:8 6.472 6,230 6,002 5,786 5,582 5,389 5,206 5,033 4,868 4,712 4,564 4,423 4,288 4,160 4,039 3,605 3,161 2,802
8 i.6:,2 7,325 7.020 6,733 6,463 6,210 5,971 5,747 5,535 5,335 5,146 4,968 4,799 4,639 4,487 4,344 3,837 3,329 2,925
9 B.5c-6 6.162 7,786 7,435 7,108 6,802 6,515 6,247 5,995 5,759 5,537 5,328 5,132 4,946 4,772 4,607 4,031 3,463 3,019
10 I ,1,,111 8,983 8,s3o 8,111 7,722 7,360 7,024 6,110 6.418 6,145 5,889 s,6so s,425 5,215 s,019 4,833 4,192 3,s11 3,092
~1_}0,27
12 l •1,26
I13 ·,2,13
!14 ·:3,G0
9,787
10,58
11.35
12.11
9,253
9,954
70.63
11,30
8,760
9,385
9,986
10,56
8,306
8,863
9,394
9,899
7,887
8,384
8,853
9,295
7,499
7,943
8,358
8,745
7,139
7,536
7,904
8,244
6,805
7,161
7,487
7,786
6,495
6,814
7,103
7,367
6,207
6,492
6,750
6,982
5,938
6,194
6,424
6,628
5,687
5,918
6,122
6,302
5,453
5,660
5,842
6,002
5,234
5,421
5,583
5,724
5,029
5,197
5,342
5,468
4,327
4,439
4,533
4,611
3,656
3,725
3,780
3,824
3,147
3,190
3,223
3,249
1:, [,3.87 ·12,85 11,94 11,12 10,38 9,712 9,10a 8,559
i'i6 14,72 13,58 12,56 11,65 10,84 10,11 9,447 8,851
! -'----t----t----t---t---+----t---t---+---+---t---t----+--+-----1~--t----t----t---t----i
1 ,7 15.56 14.29 13,17 12.17 11,27 10,48 9,763 9,122
8,061
8,313
8,544
7,606
7,824
8,022
7,191
7,379
7,549
6,811
6,974
7,120
6,462
6,604
6,729
6,142
6,265
6,373
5,847
5,954
6,047
s,575
5,668
5,749
4,675
4,730
4,775
3,859
3,887
3,910
3,268
3,283
3,295
-:1-;-r 16.40
;g i ·,7.23
~i i 18,05
14.99
15,68
16.35
21 i 1-S.85 17,01
GD...29.6.1S7.66
13,75
14,32
14,88
15.42
15.94
12.66
13,13
13,59
14,03
14,45
11,69
12,09
12,46
12,82
13.16
10.83
11,16
11,47
11,76
12.04
10,06
10,34
10,59
10,84
,1.06
9,372
9,604
9,818
10,02
10.20
8,756
8,950
9,129
9,292
9,442
8,201
8,365
8,514
8,649
8,772
7,702
7,839
7,963
8,075
8,176
7,250
7,366
7,469
7,562
7,645
6,840
6,938
7,025
7,102
7,170
6,467
6,550
6,623
6,687
6,743
6,128
6,198
6,259
6,312
6,359
5,818
5,877
5,929
5,973
6,011
4,812
4,843
4,870
4,891
4,909
3.928
3,942
3,954
3,963
3,970
3,304
3,311
3,316
3,320
3,323
122. J 20.46 18,29 16.44 14.86 13,49 12,30 11,27 10,37 9,580 8,883 8,266 7,718 7,230 6,792 6,399 6,044 4,925 3,976 3,325
1 ~,j :·1,2,1 18,91 16,94 15,25 13,80 12,55 11,47 10,53 9,707 8,985 8,348 7,784 7,283 6,835 6,434 6,073 4,937 3,981 3,327
25 22.02 19,52 17.41 15,62 74,09 12,78 11,65 10,67 9,823 9,077 8,422 7,843 7,330 6,873 6,464 6,097 4,948 3,985 3,329
.30 ~5.81 22.~0 19,60 17,29 15,37 13,76 12,41 11,26
--1---t----+---t----+--+-----11----t---+----t---t---+----t---t---t----+--+-----ll----t-----,
·,5 :,·9,41 25.00 21,49 18.66 16,37 14,50 12,95 11,65
-_:;i;-32.8:3 27,36 23.11 19,79 17,16 15,05 13,33 11,92
10,27
10,57
10,76
9,427
9,644
9,779
8,694
8,855
8,951
8,055
8,176
8,244
7,496
7,586
7,634
7,003
7,070
7,105
6,566
6,617
6,642
6,177
6,215
6,233
4,979
4,992
4,997
3,995
3,998
3,999
3,332
3,333
3,333
[ .:,, !J-5.0·) 29,49 2,i.52 20,72 17,77 15,46 13,61 12,11 10,88 9,863 9,008 8,283 7,661 7,123 6,654 6,242 4,999 4,000 3,333
1:\\0! 1-·1---
,1.:::,1 31,'12 25.73 21,48 18,26 15,76 ·13,80 12,23 10,96 9,915 9,042 8,304 7,675 7,133 6,661 6,246 4,999 4,000, 3,333
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2.10 Page 20 |
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