財務管理--資金的時間價值-文庫吧在線文庫
【正文】 $1,000 $1,000 $1,000 0 1 2 3 4 $3,215 = FVA3 年末 7% $1,070 $1,145 334 FVAn = R (FVIFAi%,n) FVA3 = $1,000 (FVIFA7%,3) = $1,000 () = $3,215 查表計算 III Per io d 6% 7% 8%1 0 0 02 0 0 03 4 5 64 5 0 65 7 1 7335 FVADn = R(1+i)n + R(1+i)n1 + ... + R(1+i)2 + R(1+i)1 = FVAn (1+i) 先付年金 FVAD R R R 0 1 2 n n+1 FVADn R: 每年現(xiàn)金流 年初 i% . . . 336 FVAD3 = $1,000()3 + $1,000()2 + $1,000()1 = $1,225 + $1,145 + $1,070 = $3,440 先付年金 FVAD例 $1,000 $1,000 $1,000 $1,070 0 1 2 3 4 FVAD3 = $3,440 年初 7% $1,225 $1,145 337 FVADn = R (FVIFAi%,n)(1+i) FVAD3 = $1,000 (FVIFA7%,3)() = $1,000 ()() = $3,440 查表計算 III Per io d 6% 7% 8%1 0 0 02 0 0 03 4 5 64 5 0 65 7 1 7338 PVAn = R/(1+i)1 + R/(1+i)2 + ... + R/(1+i)n 普通年金現(xiàn)值 PVA R R R 0 1 2 n n+1 PVAn R: 每年現(xiàn)金流 年末 i% . . . 339 PVA3 = $1,000/()1 + $1,000/()2 + $1,000/()3 = $ + $ + $ = $2, 普通年金現(xiàn)值 PVA例 $1,000 $1,000 $1,000 0 1 2 3 4 $2, = PVA3 年末 7% $ $ $ 340 PVAn = R (PVIFAi%,n) PVA3 = $1,000 (PVIFA7%,3) = $1,000 () = $2,624 查表計算 Per io d 6% 7% 8%1 3 5 62 3 8 33 3 4 74 5 7 25 2 0 3341 PVADn = R/(1+i)0 + R/(1+i)1 + ... + R/(1+i)n1 = PVAn (1+i) 先付年金現(xiàn)值 PVAD R R R 0 1 2 n n+1 PVADn R: 每年現(xiàn)金流 年初 i% . . . 342 PVADn = $1,000/()2 + $1,000/()1 + $1,000/()0 = $2, 先付年金 PVAD例 $
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