71:["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

=

"}}] 72:["$","span","code-1",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

-

"}}] 73:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"A premium of 20% is 20% of which value?"}]]}] 74:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"The face value."}]]}] 75:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"₹50 share at a 16% premium: market value?"}]]}] 76:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"₹58"}]]}] 77:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"₹10 share at ₹14: quoted how?"}]]}] 78:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"At a premium of ₹4, i.e. 40%."}]]}] 79:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Picture: a ₹10 share at ₹8, ₹10, ₹14. Name each."}]]}] 7a:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Discount; par; premium."}]]}] 7b:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Dividend is a per cent of…"}]]}] 7c:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["the ",["$","strong","strong-0",{"children":"face value"}],", never the market value."]}]]}] 7d:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Dividend on one share?"}]]}] a6:T696,

\text{FV} \times \dfrac{r}{100}

7e:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["$","span","code-0",{"className":"SmxAaG_mathInline SmxAaG_mathInlineScroll","data-math":"inline","tabIndex":0,"dangerouslySetInnerHTML":{"__html":"$a6"}}]}]]}] 7f:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["Annual income from ",["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

n

"}}]," shares?"]}]]}] a7:T7df,

n \times \text{FV} \times \dfrac{r}{100}

80:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["$","span","code-0",{"className":"SmxAaG_mathInline SmxAaG_mathInlineScroll","data-math":"inline","tabIndex":0,"dangerouslySetInnerHTML":{"__html":"$a7"}}]}]]}] 81:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Number of shares bought?"}]]}] a8:T56f,

\dfrac{\text{investment}}{\text{MV}}

82:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["$","span","code-0",{"className":"SmxAaG_mathInline SmxAaG_mathInlineScroll","data-math":"inline","tabIndex":0,"dangerouslySetInnerHTML":{"__html":"$a8"}}]}]]}] 83:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["Investment for ",["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

n

"}}]," shares?"]}]]}] 84:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

n \\times \\text{MV}

"}}]}]]}] 85:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"450 ₹10 shares at 18%: income?"}]]}] 86:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"₹810"}]]}] 87:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Two people hold the same shares, bought at different prices. Incomes?"}]]}] 88:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Equal: the income depends on the number of shares, the FV and the rate."}]]}] 89:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Income wanted, FV and rate known: number of shares?"}]]}] 8a:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["Income wanted ",["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

\\div

"}}]," dividend on one share."]}]]}] 8b:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Most common mistake with the dividend?"}]]}] 8c:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Taking the rate on the market value."}]]}] 8d:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Rate of return?"}]]}] a9:Tc9b,

\dfrac{\text{income}}{\text{investment}} \times 100 = \dfrac{\text{FV} \times r}{\text{MV}}

8e:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["$","span","code-0",{"className":"SmxAaG_mathInline SmxAaG_mathInlineScroll","data-math":"inline","tabIndex":0,"dangerouslySetInnerHTML":{"__html":"$a9"}}]}]]}] 8f:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Bought at a premium: return compared with the rate of dividend?"}]]}] 90:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Less."}]]}] 91:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Bought at a discount: return compared with the rate of dividend?"}]]}] 92:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"More."}]]}] 93:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"₹100 shares at ₹125 paying 10%: return?"}]]}] 94:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"8%"}]]}] 95:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Which of two shares is the better investment?"}]]}] 96:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["The one with the higher ",["$","strong","strong-0",{"children":"return"}],", not the higher rate of dividend."]}]]}] 97:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Price for a given return?"}]]}] aa:T7b2,

\text{MV} = \dfrac{\text{FV} \times r}{\text{return}}

98:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["$","span","code-0",{"className":"SmxAaG_mathInline SmxAaG_mathInlineScroll","data-math":"inline","tabIndex":0,"dangerouslySetInnerHTML":{"__html":"$aa"}}]}]]}] 99:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Picture: graph of return against market value. Shape?"}]]}] 9a:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"A falling curve: the higher the price, the lower the return."}]]}] 9b:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Selling shares: proceeds?"}]]}] 9c:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["Number sold ",["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

\\times

"}}]," selling price."]}]]}] 9d:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Reinvesting: new number of shares?"}]]}] 9e:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["Proceeds ",["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

\\div

"}}]," market value of the new shares."]}]]}] 9f:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Change in income after reinvesting?"}]]}] a0:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":["New annual income ",["$","span","code-0",{"className":"SmxAaG_mathInline","data-math":"inline","tabIndex":"$undefined","dangerouslySetInnerHTML":{"__html":"

-

"}}]," old annual income."]}]]}] a1:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Gain on a sale vs change in income?"}]]}] a2:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Gain uses buying and selling prices; change in income uses dividends."}]]}] a3:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"Does a higher rate of dividend always mean more income after reinvesting?"}]]}] a4:["$","div",null,{"className":"SmxAaG_md","lang":"$undefined","children":[["$","p","p-0",{"children":"No: the new price may be high enough to give fewer, lower-earning shares."}]]}]

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