Why is Thermoregulation Important?

Why is Thermoregulation Important? In all living organisms there is a complex series of chemical reactions occurring, the rate of which is dependent of temperature. In order for these chemical reactions to occur and thus sustain life all animals exhibit some way of regulating their body temperature. This process is known as thermoregulation. This regulation is achieved in various ways, either by behavioural or autonomic means. Homeothermic animals take advantage of both behavioural and autonomic means of regulating their body temperature in response to temperature fluctuations. Homeotherms have complex means of maintaining core body temperature within very narrow limits. For example, humans are able to regulate skin blood flow through the vasodilation and vasoconstriction of blood vessels redirecting blood so as to conserve heat in cold conditions or to increase heat loss in the cold. This process is further reviewed later on. Other autonomic processes utilized by homeotherms are shivering and non-shivering thermogene sis. Poikiotherms do not have the means to regulate their body temperature in such a precise way. Their body temperature is more dependent on the environmental temperature and they regulate this primarily by behavioural means. Such animals include bees, fish, amphibians and reptiles. However current knowledge on how this behavioural thermoregulation operates is not very high. Heterotherms exhibit the characteristics of both homeotherms and poikilotherms. One such example are bats which when active utilize autonomic means to maintain their relatively high body temperature. At rest however the metabolic cost of maintaining this body temperature is too high thus they substantially reduce their metabolic rate, at such time they can be described as being poikiothermic. This review will focus in some detail on the various mechanisms by which different animals thermoregulate, some of the benefits and drawbacks associated with thermoregulation and how this complex system has evolved across different groups of animals. I will draw on knowledge from various pieces of literature to give a comprehensive overview of this important life process. Behavioural and autonomic means of thermoregulation As discussed earlier homeotherms are utilise autonomic means to regulate their internal body temperature. It has been postulated that there is a hierarchy of structures responsible for maintaining the internal body temperature of these animals. The preoptic area of the hypothalamus plays a key role in autonomic thermoregulatory process. Early thermal studies identified the preoptic area as the centre of the thermoregulatory response. This area is synaptically connected to the lower brain stem and thus enables precise regulation of body temperature. Early research suggested that an increase in temperature in this preoptic region would lead to the excitation of neurons, resulting in the heat loss organs bringing about a reduction in preoptic temperature. In the same way, a reduction in preoptic temperature would excite neurons and lead to the heat production organs bringing about an increase in preoptic temperature. More recent research however has demonstrated that there is a far grea ter number of warm-sensitive neuron than cold-sensitive. These warm-sensitive neurons, play a much bigger role in the thermoregulatory process. During pre-optic warming these warm sensitive neurons significantly increase their firing rates and because of the synaptic connection with the lower brain stem, effector neurons are able to bring about heat loss responses. The median forebrain bundle is an important pathway that may be utilized here carrying signals to effector areas. In this way autonomic responses such as skin blood flow and shivering are controlled. Figure 1 demonstrates that in addition to bringing about heat loss responses, the increased firing rate of warm sensitive neurons inhibits nearby cold sensitive receptors preventing heat production. During pre-optic cooling the firing rate of warm sensitive neurons decreases thus reducing synaptic inhibition of the cold sensitive neurons. In turn the cold sensitive neurons increase their firing rate and induce heat production responses and heat retention. The preoptic region is also involved in afferent signals, detecting peripheral temperature changes through receptors in the skin. This information is integrated with central temperature information and the appropriate thermal response is activated. Most preoptic neurons are actually temperature insensitive, but do serve a purpose in thermoregulation. It has been postulated that they are involved in the comparison of excitatory and inhibitory synaptic inputs from both warm sensitive and temperature insensitive neurons. It is this that forms the basis for set point temperatures, therefore playing a vital role in heat loss, heat retention and heat production responses. Figure 1 demonstrates the activity of a temperature insensitive neuron. If a neuron is inhibited by a warm sensitive neuron and excited by a temperature insensitive neuron it will act as a cold sensitive neuron. Once the preoptic temperature drops below a certain point i.e. the set point, it will increases it firing rate and bring about heat production and heat retention responses. If thermoregulation does not operate properly it may result in fever. This can be caused by the presence of endogenous substances like pyrogen. Pyrogen affects the activity of the pre-optic thermosensitive neurons. It can inhibit the firing rate of the warm sensitive neurons resulting in heat loss responses not occurring and elevated set point temperature. Also because of the synaptic inhibition between the warm-sensitive and cold-sensitive neurons, this decreased firing rate will result in an increased firing rate in the cold-sensitive neurons and bring about heat production responses further elevating the set point temperature. As a result fever occurs. Skin blood flow The preoptic area is able to coordinate correct efferent response in response to various internal and external thermal stimuli. One of these responses is the control of skin blood flow in humans. The vasodilation of blood vessels and the resultant increased blood flow to the skin is vital to heat dissipation during heat exposure. The increased skin blood flow significantly increases convective heat transfer from the body to the periphery. In conjunction with this increased skin blood flow, the evaporation of sweat from the skin results in cooling of blood in the dilated vessels. This process continues until the internal temperature returns to normal, at which point sweating stops and skin blood flow returns to normal. Skin blood flow in humans is controlled by vasoconstrictor and vasodilator nerves. The vasoconstrictor system is continually active, detecting even detecting subtle changes in ambient temperature. Through this activity maintenance of normal body temperature is achieved. Even small changes in skin blood flow can cause relatively large changes in heat dissipation. The vasodilator system on the other hand is only activated when an increase in internal temperature is detected. This may be during exercise or as a result of environmental heat exposure. Humans have many eccrine sweat glands distributed around the body which are responsible for thermal sweating. These sweat glands are innervated by sympathetic nerves which when stimulated results in secretion. The sweating response is only of benefit when it is coupled with evaporative heat loss. It is for this reason that environmental conditions like humidity and wind speed play an important role in this thermoregulatory process. Sweating and vasodilation are functionally linked however changes in one does not necessarily reflect changes in the other. An example of this is during exercise, as the threshold for cutaneous vasodilation is increased bit the threshold for the sweating response is not. During exercise blood cannot be redirected to the skin at the same level as blood flow to the muscle must be maintained. During cold exposure vasoconstriction of blood vessels and the redirection of blood flow to the core is essential for heat retention. When vasoconstriction occurs its results in a decrease in heat dissipation from the skin. Any alteration in this process can have serious implications, impairing the bodys ability to thermoregulate. As temperature decreases further shivering occurs. These muscular contractions help to maintain core body temperature. Humans are not the only animals to utilize evaporative heat loss process. Despite the fact that most mammals do not have sweat glands many of them are able to use this process in different ways. Birds lack sweat glands and some mammals like cats or dogs only have sweat glands on their feet. In such animals evaporative heat loss occurs by increased air movement over moist mucosal surfaces of the mouth and upper respiratory tract. This is brought about by rapid shallow breathing along with increased salivation. Another way of utilizing this process is seen in rats and kangaroos when they spread saliva on their fur. Tests in rats have shown that warming of the pre optic area of the hypothalamus results in increased saliva secretion. It also resulted in body extension which improves heat loss through the increase in effective body surface area. Many small mammals and those that hibernate exhibit another process in the thermoregulatory process. This process known as non-shivering thermogenesis occurs in response to the cold and it is regulated by the pre-optic area of the hypothalamus. It is a result of increased metabolic activity in the brown adipose tissue. The brown fat cells there are numerous fat droplets interspersed with many mitochondria. The brown adipose tissue has a rich supply and is also innervated by many sympathetic nerves. In cold conditions this non-shivering thermogenesis is activated by impulses passing down these sympathetic nerves or by the release of noradrenaline from the adrenal medulla. The free fatty acid store are burned up with the help of mitochondria and heat is produced. The rich blood supply to the area ensures blood is transported back to the core thus increasing core temperature. This process is seen in animals that hibernate, evident from the amount of brown fat found in such animals. Behavioural thermoregulation As indicated before the preoptic region plays a key role in autonomic thermoregulation, it does not however play such an important role in behavioural thermoregulation. Currently there is a lack of knowledge to indicate exactly which area of the hypothalamus is involved in behavioural thermoregulation. Behavioural responses to changes in environmental temperature occur before the internal body temperature elevates. It is from this that the assumption has been made that receptors in the skin play a key role in behavioural thermoregulation. Research has shown that the neurons responding to thermal stimulation of the skin are located in the spinal cord, with the signals from these reach areas in the cerebral cortex. However these signals, whether detected as hot or cold, cannot be a direct cause of activating the behavioural process. The reasoning behind this is that if a cold stimulus is applied to the skin of a resting animal, they perceive this as unpleasant and move away from it. Ho wever during exercise the same cold stimulus applied to the skin may be perceived as pleasant. It is because of this that the behavioural mechanisms of thermoregulation appear to be based around thermal comfort and discomfort. It has been postulated that the parastrial nucleus and the dorsomedial hypothalamic region are involved in eliciting behavioural responses. Further research however needs to be done to confirm this, possibly by examining the effect of lesions of the two areas on behavioural responses. Once the area directly responsible for eliciting behavioural responses further research can then be done into the relationship between behavioural and autonomic responses. One example of an animal that exhibits mainly behavioural thermoregulation is the lizard. Lizards are ectothermic mainly obtaining heat from external sources. Lizards are able to maintain a relatively high body temperature, unlike most other ectotherms they can do this very precisely. Much research has been carried out into the thermoregulatory process of reptiles. An early concept that was developed was that of the preferred body temperature (PBT), which is related to homeostasis. The idea being that the PBT is the optimum temperature at which the animals physiological processes take place. The PBT varies across species and in some lizards the PBT can change along with the seasons. There are a number of different ways in which the lizard obtains heat from the environment. The absorption of solar radiation or the conduction from hot air or surfaces are the main ways in which lizards gain heat. If internal temperature is too high they may reduce this by radiation from the surface, con vection or conduction to a cooler surface. Like other animals discussed before lizards are able to utilize evaporative cooling processes. In temperate climates lizards maintain a high PBT and obtain heat through absorption of solar radiation by basking in the sun, these are known as basking heliotherms. Different species of lizard exhibit different behaviour in relation to basking. The Lacerta vivipara emerges and begins to bask at a time when the activity temperature can be reached in the least time. This way they do not unnecessarily make themselves vulnerable to predators. Other lizards may emerge at a constant time independent of temperature. When basking lizards will adopt a specific posture in order to maximise body surface area and thus maximising their heat gain from the surroundings. They do this by sprawling on the ground with outstretched legs. During the day lizards will alternate between periods of activity and periods of basking. When they achieved their activity tempe rature they will stop basking and may begin actively foraging for food. During this time their internal body temperature is continually dropping and once it reaches a certain point they will have to bask again. This is a continual cycle throughout the day, observed in species known as shuttling heliotherms. Species which obtain most of their heat by conduction from hot rocks are known as thigmotherms, they are only able to in regions with intense solar radiation. Although the information on how lizards monitor their body temperature and how they use this to elicit the appropriate behavioural response is limited, the assumption is made that they must have thermal receptors in the skin. While maintaining a high body temperature the lizard will exhibit a lower metabolic rate than mammals, the reason being that they obtain most of their heat by thermal radiation. However lizards do generate some heat by metabolism but as they do not have fur, feathers or other insulatory means seen in h ometherms this heat is lost very quickly. Research has shown that heart rate can effect thermoregulation in these animals. During cooling the animals heart rate decreases thus decreasing blood flow and conserving heat. As seen in other animals, these reptiles exhibit some control over peripheral blood flow through the sympathetic vasoconstriction or vasodilation of blood vessels. Evolution of homethermy Endotherms like birds and mammals are different from ectotherms in that they have substantially higher standard metabolic rate. When the ambient temperature is reduced endotherms may raise their metabolic rate to generate heat, as opposed to ectotherms such as the lizard which simply allow their body temperature to drop. The evolution of this process of homeothermy may have occurred in stages with the first being the development of behavioural thermoregulation. As seen in the lizard this can become very precise. Once this level of thermoregulation had been achieved enzymes may have become adapted to function optimally at the PBT. Along with a gradual increase in the importance of metabolic heat and development of fur, feathers and subcutaneous fat to retain the heat homeothermy eventually evolved. Consequences of homethermy The evolution of homethermy has many advantages, in that it gives such animals independence from changes in environmental temperature. There are however some downfalls to this process. In order to maintain their high body temperature they must also maintain a high metabolic rate. To do so homeothermic animals must eat a lot more than poikiotherms and they must do so continually. This can be a big problem for small mammals or birds which lose heat fairly quickly. These smaller animals must feed voraciously just to maintain their body temperature. Adaptions to cold Many animals have had to adapt to survive in climates where they are exposed to severe cold conditions. There is a number of ways in which they do this, either through migration, adapting itself to tolerate the cold or it can go into hibernation. Some poikiotherms such as faced with extreme cold have demonstrated adaptions to avoid freezing through the secretion of glycerol. Through this they are able to reduce the freezing point of the body fluids. Another adaption to surviving extreme cold conditions is known as supercooling. This phenomenon is the ability to tolerate temperatures lower than the typical freezing point. One experiment demonstrated that fish taken from deep water had a freezing point between -0.9 and -1.0 C, yet the temperature of the water from which they were taken was -1.73C. Thus they are demonstrating supercooling. It is through this process that deep water fish are able to survive such low temperatures. Another adaption to climatic stress is hibernation. During hibernation, body temperature decreases to approximately that of the surrounding environment. Heart rate and metabolic rate also drop to a minimal level. Animals that hibernate are homeothermic during the summer but under the cold conditions of winter they become poikilothermic. During hibernation the animal remains inactive with greatly reduced metabolic requirements. The animal sustains these small requirements through its energy stores. If surrounding conditions get too low the animals metabolic rate may increase to generate heat. Some species also exhibit another process in regulating their body temperature. This process is a cycle between phases of intense activity with phases of torpor. This is a daily cycle exhibited in small birds and mammals that have high metabolic rates. An animal that exhibits such behaviour is the insectivorous bat. Their particular aerial habits inhibit them from carrying large energy stores. Studies have shown that torpor is important in energy maintenance during the summer diurnal roosting of the N. geoffroy. While resting, the energetic cost of maintaining a  constant, high (normothermic) body temperature (Tb) in small  bats rises steeply when ambient temperature (Ta) decreases below  about 30_C (Herreid and Schmidt-Nielsen 1966; Kulzer et  al. 1970; Genoud 1993; Geiser and Brigham 2000). Hence, thermoregulation  throughout the diurnal rest phase can be energetically  expensive, even at relatively high roost Ta. Furthermore,  during cool weather, insect activity and therefore foraging  success and energy intake of insectivorous bats typically declines  dramatically (Paige 1995; Hickey and Fenton 1996). Torpor is  likely an important factor in allowing insectivorous bats to  manage their energy expenditure nd survive in temperate climates  

Fin300 Midterm

Ryerson University CFIN300 Midterm Exam Fall 2007 There are 2. 0 hours in this exam. Version A Student Name____________________________ (Please Print) Student Number_________________________________ Notes: 1. This is a closed book exam. You may only have pens, pencils and a calculator at your desk. 2. A formula sheet is attached to the end of the exam. You may detach the formula sheet from the exam. Please fill out the scanner sheet as you go along in the exam. You will not be given extra time at the end of the exam to fill it out. 3.Select the best possible answer for each multiple-choice question 4. Each of the 30 MC questions is worth 1 mark Marks: Available Total 30_________ There are 14 pages in this exam. |2. |Poor Dog, Inc. borrowed $135,000 from the bank today. They must repay this money over the next six years by making monthly | | |payments of $2,215. 10. What is the interest rate on the loan? Express your answer with annual compounding. | |A) |5. 98% | |B) |6. 63% | |C) |4 . 1% | |D) |5. 65% | |E) |5. 80% | |3. |How much would you pay for a security that pays you $500 every 4 months for the next 10 years if you require a return of 8% per | | |year compounded monthly? | |A) |$11,228. 48 | |B) |$15,000. 00 | |C) |$10,260. 0 | |D) |$13,724. 90 | |E) |$10,200. 23 | |4. |You can earn 5% per year compounded annually for the next 4 years, followed by 8% per year compounded quarterly for 5 years. | | |What is the average annual compounded rate of return over the 9 year period? Express your answer with monthly compounding. | |A) | | |B) |6. 2% | |C) |6. 97% | |D) |6. 43% | |E) |6. 59% | |5. |You have just purchased a house for $540,000 with a $200,000 down payment. You are going to get a mortgage at the TF bank for | | |the balance. TF is charging a rate of 5. 8% per year compounded semi-annually on 5 year term mortgages.You want to make weekly| | |payments amortized over 20 years. What is your weekly payment? | |A) |$877. 60 | |B) |$549. 01 | |C) |$545. 47 | |D) | | |E) |$871. 92 | |6. |Master Meter is planning on constructing a new $20 million facility. The company plans to pay 20% of the cost in cash and | | |finance the balance.How much will each monthly loan payment be if they can borrow the necessary funds for 30 years at 9% per | | |year compounded semi-annually? | |A) |$128,740 | |B) |$158,567 | |C) |$160,925 | |D) |$141,982 | |E) |$126,853 | 7. |Gerry Industries has some 8% (per year compounded semi-annually) coupon bonds on the market that are selling at $989, pay | | |interest semi-annually, and mature in fifteen years. The company would like to issue $1 million in new fifteen-year bonds. What | | |coupon rate should be applied to the new bonds if Gerry Industries wants to sell them at par? Express your answer with | | |semi-annual compounding. | |A) |8. 00% | |B) |8. 3% | |C) |7. 87% | |D) |8. 13% | |E) |8. 26% | |8. |You have decided to save $30 a week for the next three years as an emergency fund. You can earn 3. 5 % per year compounded | | |weekly. How much would you have to deposit in one lump sum today to have the same amount in your savings at the end of three | | |years? |A) |$4,441. 26 | |B) |$4,382. 74 | |C) |$4,288. 87 | |D) |$4,305. 19 | |E) |$4,414. 14 | |9. |A credit card company charges you an interest rate of 1. 25% per month.The annual percentage rate is ____ and the effective | | |annual rate is _______. | |A) |15. 00%; 16. 08% | |B) |16. 08%; 15. 00% | |C) |15. 00%; 15. 00% | |D) |15. 00%; 14. 55% | |E) |14. 55%; 15. 00% | |10. The Friendly Bank wants to earn an effective annual rate of 9% on its auto loans. If interest is compounded monthly, what APR | | |must they charge? | |A) |8. 65% | |B) |9. 17% | |C) |8. 58% | |D) |9. 38% | |E) |8. 44% | Use the following to answer question 11: |Rondolo, Inc. |2006 Income Statement | |Net Sales |$12,800 | |Less: Cost of Goods Sold |10,400 | |Less: Depreciation |680 | |Earnings Before Interest and Taxes |1,720 | |Less: Interest Pa id |280 | |Taxable Income |$1,440 | |Less: Taxes |500 | |Net Income |$940 | | Dividends |$423 | | Additions to retained earnings |$517 | |Rondolo, Inc. |2006 Balance Sheet | |Cash | |$520 | |Accounts payable | |$1,810 | |Accounts rec | |1,080 | |Long-term debt | |3,600 | |Inventory | |3,120 | |Common stock | |5,000 | |Total | |$4,720 | |Retained earnings | |1,790 | |Net fixed assets | |7,480 | | | | | |Total assets | |$12,200 | |Total liabilities & equity | |$12,200 | | | | | | | | | |11. |Rondolo, Inc. is currently operating at maximum capacity. All costs, assets, and current liabilities vary directly with sales. | | |The tax rate and the dividend payout ratio will remain constant.How much additional debt is required if no new equity is raised| | |and sales are projected to increase by 4 percent? | |A) |-$122. 08 | |B) |$598. 75 | |C) |$416. 00 | |D) |-$562. 50 | |E) |$318. 01 | |12. |Your brother-in-law borrowed $2,000 from you four years ago and then disappeared. Yesterday he returned and expressed a desire | | |to pay back the loan, including the interest accrued.Assuming that you had agreed to charge him 10% per year compounded | | |annually, and assuming that he wishes to make five equal annual payments beginning in one year, how much would your | | |brother-in-law have to pay you annually in order to pay off the debt? (Assume that the loan continues to accrue interest at 10% | | |per year. ) | |A) |$738. 63 | |B) |$798. 24 | |C) |$772. 45 | |D) |$697. 43 | |E) |$751. 46 | |13. |What information to you need to find the 3 year forward rate starting 2 years from now? |A) |2 and 5 year zero coupon spot rates | |B) |3-year zero coupon spot rate | |C) |2 and 3 year zero coupon spot rates | |D) |5 year zero coupon spot rate | |E) |3 and 5 year zero coupon spot rates | |14. |You have been making payments for the last 25 years and have finally paid off your mortgage.Your original mortgage was for | | |$345,000 and the interest rate was 5% per year comp ounded semi-annually for the entire 25 year period. How much interest have | | |you paid over the last 5 years of the mortgage? | |A) | | |B) |$120,392. 23 | |C) |$13,931. 87 | |D) |$80,743. 13 | |E) |$106,460. 37 | |15. |Which of the following is (are) sources of cash? | | | | | |I. | |an increase in accounts receivable | | | | | |II. | | |a decrease in common stock | | | | | |III. | | |an increase in long-term debt | | | | | |IV. | |a decrease in accounts payable | | | | |A) |I, II, and IV only | |B) |II and IV only | |C) |I only | |D) |III only | |E) |I and III only | |16. Financial planning allows firms to: | | | | | |I. | | |avoid future losses. | | | | | |II. | | |develop contingency plans. | | | | | |III. | | |ascertain expected financing needs. | | | | | |IV. | | |explore and evaluate various options. | | | |A) |I, II, III, and IV | |B) |I and IV only | |C) |III and IV only | |D) |II and III only | |E) |II, III, and IV only | Use the following to answer q uestion 17: |Current |$100 | |Assets | | |A) |$52. 00 | |B) |$22. 50 | |C) |$0. 00 | |D) |$4. 50 | |E) |$29. 50 | |18. |A new security will pay an initial cash flow of $100 in 1 year. Thereafter it will pay cash flows every month for the rest of | | |time.The cash flows will grow at 3% per year compounded monthly forever. If you require a return of 6% per year compounded | | |monthly, how much would you be willing to pay for this security? | |A) |$18,932. 30 | |B) |$40,000. 00 | |C) |$37,864. 59 | |D) |$33,333. 33 | |E) |$20,000. 00 | |19. |Which one of the following actions is the best example of an agency problem? |A) |Basing management bonuses on the attainment of specific financial goals | |B) |Requiring stockholders approval of all management compensation decisions | |C) |Paying management bonuses based on the current market value of the firm's stock | |D) |Paying management bonuses based on the number of store locations opened during the year | |E) |Accepting a project th at enhances both management salaries and the market value of the firm's stock | |20. |The bonds of Frank's Welding, Inc. pay an 8% annual coupon, have a 7. 98% (per year compounded annually) yield to maturity and | | |have a face value of $1,000. The current rate of inflation is 2. 5% per year compounded annually.What is the real rate of return| | |on these bonds? | |A) |5. 42 percent | |B) |5. 48 percent | |C) |5. 35 percent | |D) |5. 37 percent | |E) |5. 32 percent | |21. |What is the future value of the following cash flows at the end of year 3 if the interest rate is 6% per year compounded | | |annually? The cash flows occur at the end of each year. | | | | |Year 1 | | |Year 2 | | |Year 3 | | | | | |$5,180 | | |$9,600 | | |$2,250 | | | | |A) |$19,341. 02 | |B) |$15,916. 8 | |C) |$19,608. 07 | |D) |$18,246. 25 | |E) |$18,109. 08 | |22. |The I. C. James Co. invested $10,000 six years ago at 5% per year simple interest. The I. M. Smart Co. invested $10,000 six years | | |a go at 5% per year compounded annually. Which one of the following statements is true concerning these two investments? | | | | | |I. | | |The I. C.James Co. has an account value of $13,400. 96 today. | | | | | |II. | | |The I. C. James Co. will have an account value of $13,400. 96 six years from now. | | | | | |III. | | |The I. M Smart Co. will earn $525 interest in the second year. | | | | | |IV. | | |Both the I. C. James Co. and the I. M. Smart Co. will earn $500 interest in the first year. | | | |A) |II, III and IV only | |B) |II and IV only | |C) |I and III only | |D) |III and IV only | |E) |I, III and IV only | |23. |The bonds of Microhard, Inc. carry a 10% annual coupon, have a $1,000 face value, and mature in four years. Bonds of equivalent| | |risk yield 15% (per year compounded annually). Microhard is having cash flow problems and has asked its bondholders to accept | | |the following deal: The firm would like to make the next three coupon payments at half the schedu led amount, and make the final | | |coupon payment be $251.If this plan is implemented, the market price of the bond will (rise/fall) to ___________. (Continue to| | |assume a 15% required return. ) | |A) |$892. 51 | |B) |$865. 45 | |C) |$829. 42 | |D) |$808. 89 | |E) |$851. 25 | |24. Your older sister deposited $5,000 today at 8% per year compounded annually for five years. You would like to have just as much | | |money at the end of the next five years as your sister. However, you can only earn 6% per year compounded annually. How much | | |more money must you deposit today than your sister if you are to have the same amount at the end of five years? | |A) |$367. 32 | |B) |$399. 05 | |C) |$489. 84 | |D) |$201. 0 | |E) |$423. 81 | |25. |Net income differs from operating cash flow due to the handling of: | |A) |Interest expense and depreciation. | |B) |Depreciation and dividends. | |C) |Dividends and non-interest expense. | |D) |Dividends and interest expense. | |E) |Dividends, interest expense, and depreciation. | |26. |Shirley adds $1,000 to her savings on the last day of each month. Shawn adds $1,000 to his savings on the first day of each | | |month.They both earn an 8% per year compounded quarterly rate of return. What is the difference in their savings account | | |balances at the end of 35 years? | |A) |$13,923. 34 | |B) |$15,794. 64 | |C) |$16,776. 34 | |D) |$14,996. 47 | |E) |$12,846. 88 | Use the following to answer questions 27-30: |KLM, Inc. |2006 Income Statement | |Net sales |$3,685 | |Cost of goods sold |$3,180 | |Depreciation |$104 | |Earnings before interest and taxes |$401 | |Interest paid |$25 | |Taxable income |$376 | |Taxes |$128 | |Net income |$248 | |Dividends paid |$60 | |Addition to retained earnings |$188 | | | |KLM Corporation | |Balance Sheets as of December 31, 2005 and 2006 | | | | |2005 |2006 | |2005 |2006 | |Cash |$520 |$601 |Accounts payable |$621 |$704 | |Accounts rec. $235 |$219 |Notes payable |$333 |$272 | |Inv entory |$964 |$799 |Current liabilities |$954 |$976 | |Current assets |$1,719 |$1,619 |Long-term debt |$350 |$60 | |Net fixed assets |$890 |$930 |Common stock |$800 |$820 | | | | |Retained earnings |$505 |$693 | |Total assets |$2,609 |$2,549 |Total liabilities and Owner's equity |$2,609 |$2,549 | |27. |What is the net capital spending for 2006? | |A) |$208 | |B) |$144 | |C) |-$144 | |D) |$64 | |E) |-$64 | |28. |What is the cash flow from assets for 2006? |A) |$1,307 | |B) |$2,259 | |C) |$355 | |D) |$2,503 | |E) |$111 | |29. |What is the operating cash flow for 2006? | |A) |$480 | |B) |$169 | |C) |$425 | |D) |$272 | |E) |$377 | |30. |What is the change in net working capital for 2006? |A) |$122 | |B) |$643 | |C) |$765 | |D) |-$643 | |E) |-$122 | |31. |A number of years ago you bought some land for $100,000. Today it is worth $225,000. If the land has been rising is price by | | |5% per year compounded annually, how long have you owned the land? | |A) |14. 1 years | |B) |16. years | |C) |Can't be determined with the given information | |D) |13. 8 years | |E) |12. 4 years | |FV = PV (1+tr) |[pic] | |FV = PV (1+r)t |[pic] | |[pic] |[pic] | |[pic] |[pic] |[pic] |[pic] | |[pic] |[pic] | |[pic] |[pic] | |[pic] |[pic] | |[pic] |[pic] | |[pic] |Total Dollar Return (TDR) = Dividend Income + Capital Gain (Loss) | | | | | |[pic] | |[pic] |[pic] | |[pic] |Variance of returns [pic] | |[pic] |[pic] | |[pic] |[pic] | |[pic] |[pic] | |Arbitrage Pricing Theory |PV of CCA tax shield [pic] | |[pic] | | |Current Ratio |= |Current Assets | |Total Asset |= |Sales | | | |Current Liabilities | |Turnover | |Total Assets | | | | | | | | | |Quick Ratio |= |Current Assets – Inventory | |ROA |= |Net Income | | |Current Liabilities | | | |Total Assets | | | | | | | | | |Inventory Turnover |= |COGS | |ROE |= |Net Income | | | |Inventory | | | |Total Equity | | | | | | | | | |Cash Ratio |= |Cash | |P/E Ratio |= |Price/common share | | | |Current Liabilities | | | |E PS | | | | | | | | | |Receivables |= |Sales | |Dividend Payout |= |DPS | |Turnover | |Accounts Receivable | |Ratio | |EPS | | | | | | | | | |D/E Ratio |= |Total Debt | |Dividend Payout |= |Cash Dividends | | | |Total Equity | |Ratio | |Net Income | | | | | | | | | |Total Debt Ratio |= |Total Debt | |Market to Book | |Price / Common share | | | |Total Assets | |Ratio |= |Book value of equity | | | | | | | | | | | | | | | | | |Equity multiplier |= |Total Assets | |Profit |= |Net Income | | | |Total Equity |Margin | |Sales | | | | | | | | | |Net Working |= |Net Working Capital | |Interval Measure |= |Current Assets | |Capital-Total Asset | |Total Assets | | | |Average Daily Operating Costs | | | | | | | | | |Long Term Debt |= |Long Term Debt | |Cash Coverage |= |EBIT + Depreciation | |Ratio | |Total Equity + LT Debt | |Ratio | |Interest | | | | | | | | | | | | | | | | |Days’ Sales in |= |365 Days | |Days’ Sales in |= |365 Days | |Receivables | |Receivables Turnover | |Inv entory | |Inventory Turnover | | | | | | | | | |Internal Growth |= |ROA x R | |‘Sustainable |= |ROE x R | |Rate | |1 – ROA x R | |Growth Rate | |1 – ROE x R | | | | | | | | | | | | | |‘Sustainable |= |p(S/A)(1+D/E) x R | | | | | |Growth Rate | |1 – p(S/A)(1+D/E) x R | | | | | | | | | |NWC |= |Sales | |Fixed Asset |= |Sales | |Turnover | |NWC | |Turnover | |Net Fixed Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |Times Interest |= |EBIT | |CF from Assets = | | | | | |Operating CF – Cap Ex – Additions to NWC | | | | | | | | | | | |Operating CF = EBIT + Deprec – Tax | | | | | |=Sales – Costs – Taxes | | | | | |= (Sales – Costs) x (1 – Tc) + Deprec x Tc | | | | | | | | | | | |Cap Ex = End Gross FA – Beg Gross FA | | | | | |Cap Ex = End Net FA – Beg Net FA + Deprec | | | | | | | | | | |Add to NWC = End NWC – Beg NWC | | | | | | | | | | | |CF to Debtholders = Interest – Net New Debt | | | | | | | | | | | |CF to Shareholders = Divs – Net New Equity | | | | | | | | | | | |CF from Assets = CF to Debtholders + CF to | | | | | |Shareholders | |Earned | |Interest Charges | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Answer Key |2. |E | |3. |E | |4. |E | |5. B | |6. |E | |7. |D | |8. |A | |9. |A | |10. |A | |11. |A | |12. |C | |13. |A | |14. C | |15. |D | |16. |E | |17. |E | |18. |C | |19. |D | |20. |C | |21. |D | |22. D | |23. |C | |24. |C | |25. |A | |26. |D | |27. |B | |28. |C | |29. |E | |30. |E | |31. |B |

Basketball Skills Essay

Andrew Lorentz Prof Berkhof PE 141 Basketball Skills 10/14/09 Basketball Skills Reflective Assessment Essay Basketball Skills was a great physical education class because I got to improve my overall basketball skills and learn some exact specifics about the sport I love to play the most. I’ve been playing basketball since I was very young and will continue to throughout my life. I have quite a few strengths while playing basketball. One is that I am a skilled ball handler.Anyone who knows anything about basketball will tell you that in order for your team to win, you need to have that one guy or girl that can handle the ball, also called the point guard. I’ve played point guard ever since elementary school traveling to those all day basketball tournaments on Saturdays. I fit the role of the point guard because I am small and quick with excellent hand-eye coordination. I value my skill as a ball handler because my teammates rely on me to bring the ball up the court with ease without the defender stealing the ball from our team before advancing it past half court.I was valuable when our team had to break a full court press put on by the opponent because I am quick and can get open easier than all of my teammates could. Another strength of mine is that I am a fundamentally sound passer. Being able to pass the ball well in basketball relates to playing the point guard position in some ways because most point guards can dribble and pass well. I love making that assist to my teammate that forces the opponents to freeze on the court because my pass was that perfect.In high school, playing point guard my teammates and coaches would expect me to make that one pass, or the exceptionally good passes during games and practices because they knew I was capable of it and performing to my highest skill level was vital for our success as a team. Another strength I have is I am fast and quick. These skills attribute well for playing defense particularly. I was one of the best defensive players on our high school team because my coach always wanted me to guard the opponents’ quickest player. He knew I could â€Å"mirror† him and not let him score or hardly touch the ball.With strengths come weaknesses and I have a number of weaknesses while playing basketball. One is that I need to be more aggressive overall. My teammates and coaches knew I could shoot and always encouraged me to shoot or drive to the hole more. I know I could have started more games in high school if I was just more aggressive. Another weakness is my lack of being a vocal leader. For playing the point guard position you could assume that I was the captain and leader of our team but that was not the case. Since I am a more introverted person in general, I carry that with me on the basketball court.I am vocal on defense but more of a â€Å"follower† versus a hardcore leader. Basketball relates to Frequency because you could add more time in your day to play basketball. Whether that be practicing your fundamental skills more or playing more in pick-up games. Intensity is all about you as the player in basketball. Your attitude and energy that you have will show boldly on the court when you’re playing. When coaches or teammates tell you to pick up your intensity, that means focus and start getting more aggressive like driving to the hole more.Or being more active on defense: shuffle your feet and stop being lazy with your hands. Also being more vocal to get your teammates hyped up. Time relates to how much basketball you play at a time. Sometimes you might spend more time playing and others day you could be just too tired or not in the mood to work on your game. Playing basketball many days of the week could vary as far as how much time you specifically spend. You might not want your routine to be the same all the time. Type is simply doing different activities while playing basketball.In order to be a great ball player you need to be sharp in more aspects than just being able to shoot well. For instance, you could run sprints the length of the court or practice shooting from various spots around the arch. Shooting free throws becomes muscle memory with practice. Type refers to practicing different types of skills in basketball. I will continue to keep basketball in my life even though I no longer play competitively like in high school. It’s hard to stop playing a sport you’ve been playing all your life that you love to play and watch.Every winter, my high school puts on an alumni basketball tournament on one weekend. It’s a lot of fun to play with my high school friends again and play against some of the old alums of the high school that I don’t know of. Basketball to me is more than just the game itself. You can learn a lot of life lessons playing basketball, such as how to work as a team. I also love playing outside in my driveway at home. It’s a great way to practice m y shooting skills. I’m glad I took this class this semester because it was a fun class with a great coach/teacher.

Meaning of the Japanese Word Kanari

The Japanese word kanari—pronounced  precisely as the phonetic spelling indicates—is translated in a number of ways depending on context. It can mean pretty, fairy, or quite/rather. The sentence in which the word appears will indicate how the word should be used. Japanese Characters 㠁‹ã  ªÃ£â€šÅ  Example Kesa wa kanari samukatta node, mafuraa o shite dekaketaä »Å Ã¦Å" Ã£  ¯Ã£ â€¹Ã£  ªÃ£â€šÅ Ã¥ ¯â€™Ã£ â€¹Ã£  £Ã£ Å¸Ã£  ®Ã£  §Ã£â‚¬ Ã£Æ'žãÆ'•ãÆ' ©Ã£Æ' ¼Ã£â€šâ€™Ã£ â€"㠁 ¦Ã¥â€¡ ºÃ£ â€¹Ã£ â€˜Ã£ Å¸Ã£â‚¬â€š Translation:  Since it was quite cold this morning, I went out wearing a scarf.