羅斯公司理財(cái)英文習(xí)題答案chap004(參考版)
2025-06-27 00:17本頁面
【正文】 71,25081,375Total$5, NPV = $5,000 + $5, = $ Purchase the machine. Weekly inflation rate = / 52 = Weekly interest rate = / 52 = PV = $5 [1 / ( )] {1 – [(1 + ) / (1 + )]52 180。2,51,000 5 25) monthly payments left, including the one due in October 2000. Therefore, the balance of the loan on November 1, 2000 = $ + $ = $ + $ () = $5, Thus, the total amount of payoff = ($5,) = $5, Let r be the rate of interest you must earn. $10,000(1 + r)12 = $80,000 (1 + r)12 = 8 r = = % First pute the present value of all the payments you must make for your children’s education. The value as of one year before matriculation of one child’s education is $21,000 = $21,000 () = $59,955. This is the value of the elder child’s education fourteen years from now. It is the value of the younger child’s education sixteen years from today. The present value of these is PV = $59,955 / + $59,955 / = $14, You want to make fifteen equal payments into an account that yields 15% so that the present value of the equal payments is $14,. Payment = $14, / = $14, / = $2, The NPV of the policy is NPV = $750 $800 / + $250,000 / [() ()] = $2, $1, + $3, = $ Therefore, you should not buy the policy. The NPV of the lease offer is NPV = $120,000 $15,000 $15,000 $25,000 / = $105,000 $93, $11, = $ Therefore, you should not accept the offer. This problem applies the growing annuity formula. The first payment is $50,000()2() = $1,. PV = $1, [1 / ( ) {1 / ( )}{ / }40] = $21, This is the present value of the payments, so the value forty years from today is $21, () = $457, Use the discount factors to discount the individual cash flows. Then pute the NPV of the project. Notice that the four $1,000 cash flows form an annuity. You can still use the factor tables to pute their PV. Essentially, they form cash flows that are a six year annuity less a two year annuity. Thus, the appropriate annuity factor to use with them is (= ).YearCash FlowFactorPV1 $700$2 90031,000249。 = $12,000. C = $12,000 The amount of monthly installments is C = $12,000 / = $12,000 / = $ Option one: This cash flow is an annuity due. To value it, you must use the aftertax amounts. The aftertax payment is $160,000 (1 ) = $115,200. Value all except the first payment using the standard annuity formula, then add back the first payment of $115,200 to obtain the value of this option. Value = $115,200 + $115,200 = $115,200 + $115,200 () = $1,201, Option two: This option is valued similarly. You are able to have $446,000 now。 By interpolating, you are presuming that the ratio of a to b is equal to the ratio of c to d. (9 r ) / (9 10) = (
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