第4章折现现金流量估价教程.ppt

* * * * * * * It may be good at this point to discuss the difficulty of calculating time periods and interest rates, particularly without the help of a financial calculator. * * * * * * * * * e is a transcendental number because it transcends the real numbers. * * * * * It is important to note to students that in this example the year 1 cash flow was given. If the current dividend were $1.30, then we would need to multiply it by one plus the growth rate to estimate the year 1 cash flow. * * * * * * * * Remind students that the value of an investment is the present value of expected future cas