1. ABC ended the year with inventory of 812,000. During the year, the firm purchased 5,215,000 of new inventory and the cost of goods sold reported on the income statement was 5,079,000. What was ABC's inventory at the beginning of the year?
2. Suppose you buy one SPX call option contract with a strike of 1,300. At maturity, the S&P 500 Index is at 1,321. What is your net gain or loss if the premium you paid was $14?
3. If you deposit $707 per month into a savings account that pays an annual rate of 10.5 percent, compounded monthly, how much will you have in the account after 30 years?