公司理財chap4-在線瀏覽
2025-01-04 22:00本頁面
【正文】 w, with cash flows increasing by $200 per year through year 4. If the interest rate is 12%, what is the present value of this stream of cash flows? If the issuer offers this investment for $1,500, should you purchase it?,Present Value Cost → Do Not Purchase,The present value of the following cash flow stream is $6,453 when discounted at 10 percent annually. What is the value of the missing cash flow? Year 1 Cash flow $1,200 Year 2 Cash flow ? Year 3 Cash flow $2,400 Year 4 Cash flow $2,600,Have a try!!!,4.3 Compounding Periods,Compounding an investment m times a year for T years provides for future value of wealth:,For example, if you invest $50 for 3 years at 12% compounded semiannually, your investment will grow to,Effective Annual Rates of Interest,A reasonable question to ask in the above example is “what is the effective annual rate of interest on that investment?”,The Effective Annual Rate (EAR) of interest is the annual rate that would give us the same endofinvestment wealth after 3 years:,So, investing at 12.36% compounded annually is the same as investing at 12% compounded semiannually.,Find the Effective Annual Rate (EAR) of an 18% APR loan that is compounded monthly. What we have is a loan with a monthly interest rate of 1.5%. This is equivalent to a loan with an annual interest rate of 19.56%.,APR and EAR,4.4 Simplifications,Annuity(年金) A stream of constant cash flows that lasts for a fixed number of periods Growing annuity(增長年金) A stream of cash flows that grows at a cons
公司管理相關(guān)推薦
鄂ICP備17016276號-1