"quantity"exercise:support level
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Questions 1:
A stock is declining in price and reaches a price range wherein buying activity is sufficient to stop the decline. This range is best described as the:
A、 change in polarity point.
B、 resistance level.
C、 support level.
Questions 2:
The stated annual interest rate is 12.75%. If the frequency of compounding is monthly, the effective annual rate (EAR) is closest to:
A、 13.52%.
B 、12.75%.
C 、12.06%.
C is correct. The support level is defined to be a low price range in which buying activity is sufficient to stop the decline in price.
A is incorrect. The question does not ask about the breach of a support level.
B is incorrect. Resistance is the opposite of support (price range in which selling is sufficient to stop the rise in price).
A is correct.
periodic interest rate = stated annual interest rate/m In this problem: EAR = (1 + 0.1275/12)12 – 1 = 0.13522 ~ 13.52%.
B is incorrect; it is just the stated annual rate.
C is incorrect; it wrongly uses 12.75% in the formula for EAR: 0.1275 = [1 + X/12]12 – 1 and solves for X.
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