成本收益分析ppt課件-wenkub
2023-05-14 01:23:57 本頁(yè)面
【正文】 esent value of a future amount of money is the maximum amount you would be willing to pay today for the right to receive the money in the future. Present Value: Future Dollars into the Present ? Define – R = amount to be received in future – r = rate of return on investment – T = years of investment ? The present value (PV) of the investment is: ? ?PVRrT??1Present Value: Future Dollars into the Present ? In previous equation, r is often referred to as the discount rate（貼現(xiàn)率） , and (1+r)T is the discount factor（ 貼現(xiàn)因子） . ? Finally, consider a promise to pay a stream of money, $R0 today, $R1 one year from now, and so on, for T years. ? ? ? ? ? ?PV RRrRrRrTT? ? ? ? ? ? ? ?01 221 1 1. . .Present Value: Future Dollars into the Present ? Present value is an enormously important concept ? A $1,000,000 payment 20 years from now is only worth today: – $376,889 if r=.05 – $148,644 if r=.10 Private Sector
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