公司理財講義2--巫和懋-資料下載頁
2025-01-04 22:00本頁面
【正文】 u earn on your investment to cover the cost of your child’s education?,What Rate Is Enough?,2.4 PV with Special Cash Flows,Perpetuity A constant stream of cash flows that lasts forever. Growing perpetuity A stream of cash flows that grows at a constant rate forever. Annuity A stream of constant cash flows that lasts for a fixed number of periods. Growing annuity A stream of cash flows that grows at a constant rate for a fixed number of periods.,Perpetuity,A constant stream of cash flows that lasts forever.,…,The formula for the present value of a perpetuity is:,Growing Perpetuity,A growing stream of cash flows that lasts forever.,…,The formula for the present value of a growing perpetuity is:,Annuity,A constant stream of cash flows with a fixed maturity.,The formula for the present value of an annuity is:,Growing Annuity,A growing stream of cash flows with a fixed maturity.,The formula for the present value of a growing annuity:,What Is a Firm Worth?,Conceptually, a firm should be worth the present value of the firm’s cash flows. The tricky part is determining the size, timing and “risk” of those cash flows : we will probe further in later cl
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