Why are financial intermediary debt contracts (loans) a more…

Why are financial intermediary debt contracts (loans) a more important source of external financing as compared with the issuance of equity (stocks) and debt (bonds) through the financial markets.  In addition, why has the financial markets increased in importance as of late?

A call option exists on British pounds with an exercise pric…

A call option exists on British pounds with an exercise price of $1.61, a 90-day expiration date, and a premium of $.03 per unit. A put option exists on British pounds with an exercise price of $1.61, a 90-day expiration date, and a premium of $.02 per unit. You plan to purchase options to cover your future receivables of 700,000 pounds in 90 days. You will exercise the option in 90 days (if at all). You expect the spot rate of the pound to be $1.58 in 90 days. Determine the amount of dollars you expect to receive, after deducting payment for the option premium.