问题如下图:
选项:
A.
B.
C.
解释:
不理解题目,请帮忙解释一下星星_品职助教 · 2019年11月01日
同学你好,
这道题的意思是 你可以收到一笔年金,每年付你2000,连续付20年。但第一笔2000不是立刻就收到,而是要等到第13年末才能收到。当市场利率为7%时,求这种付款模式下的年金在现在的现值是多少。可以自己先算一下,然后附解析如下:
这道题是一个两步折现的过程。先折现一个20期的年金,再折现一个12期的single payment(FV)。由于第一笔payment是在N=13收到,此后连续收20年,所以计算年金这步折现的N=20,得到PV=-21188.03,但是这个PV是要折现到N=12时间点的。
然后第二步就变成了一个单一现金流从N=12折现到N=0的过程,这一步的N就是12,而不再是20了。得到0时刻的PV为9407.7。加油
NO.PZ2015120604000013问题如下 annuity of $2,000 per yewill receivefor twenty years. The first payment is to receivethe enof thirteenth years. Assume the scount rate is 7% over next years, calculate the toy's present value of the annuityA.$8,792.B.$9,408.C.$10,066. B is correct. Calculate the PV of annuity the enof the twentieth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT PV = 21,188.03. ; Calculate the PV toy: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74. 这题时间线没看懂能不能一下
NO.PZ2015120604000013问题如下annuity of $2,000 per yewill receivefor twenty years. The first payment is to receivethe enof thirteenth years. Assume the scount rate is 7% over next years, calculate the toy's present value of the annuityA.$8,792.B.$9,408.C.$10,066. B is correct. Calculate the PV of annuity the enof the twentieth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT PV = 21,188.03. ; Calculate the PV toy: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74. 如題 看不懂toy的時刻
NO.PZ2015120604000013 问题如下 annuity of $2,000 per yewill receivefor twenty years. The first payment is to receivethe enof thirteenth years. Assume the scount rate is 7% over next years, calculate the toy's present value of the annuity A.$8,792. B.$9,408. C.$10,066. B is correct. Calculate the PV of annuity the enof the twentieth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT PV = 21,188.03. ; Calculate the PV toy: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74. 是否可以这样理解第一步求出的13时点的PV实际是12时点的年末值FV,第二步往前折的起算点得从12时点算,所以才是N=12
NO.PZ2015120604000013 问题如下 annuity of $2,000 per yewill receivefor twenty years. The first payment is to receivethe enof thirteenth years. Assume the scount rate is 7% over next years, calculate the toy's present value of the annuity A.$8,792. B.$9,408. C.$10,066. B is correct. Calculate the PV of annuity the enof the twentieth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT PV = 21,188.03. ; Calculate the PV toy: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74. 之前也有一个说first payment in 5 quarters. 这道题是 first payment will happen the enof 13th year,都是求PV。 所以怎么理解这个first payment与present的关系,这个first payment都是未来发生的情况?这道题里面,如果first payment是在第十三年发生, 那么之前是没有现金流入的呀。the beginning of the 13th year应该是时点零,算这个时点的PV的话,N等于8, I/Y=7,PMT=-20000,FV=0。然后这个PV等于十二年后的FV,再折现得到现在的PV?如果按照答案解析里面,开始算PV就是N=20,那等于说在开始12年都是有payment的,跟题干要求不一致呢,怎么理解呢?
NO.PZ2015120604000013 问题如下 annuity of $2,000 per yewill receivefor twenty years. The first payment is to receivethe enof thirteenth years. Assume the scount rate is 7% over next years, calculate the toy's present value of the annuity A.$8,792. B.$9,408. C.$10,066. B is correct. Calculate the PV of annuity the enof the twentieth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT PV = 21,188.03. ; Calculate the PV toy: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74. 老师,我实在绕不过来,很笨地画了一个图,如图,在第13年底收到第一笔2000,往后收20次。第一步折现到PV13,我没有问题,第二步折现到0时刻,这个箭头怎么数都是13个啊,所以我觉得N应该是13